First sprayfoam the seams between joist and ceiling then Insulate your basement ceiling bays between the floor joists with batts of rockwool should come in 24inch or 16inch wide batts depending on your layout and thickness of the rockwool is relative to your joists (2×6, 2x8, 2x10) and then cover all of it with a 1/4inch roll of EPDM, it is a rubber roofing material works really well for sound proofing ontop of the rockwool. This should make the sound go away, so you know though unless your basement is partailly or fully under ground you will still hear your stuff upstairs in your house because like you said that isnt insulated well... if your grow doesnt take up the whole basment i would do that same protocol for sound proofing just around every wall and ceiling of your grow space... spray foam alone wont be enough electrical hums and equipment noises seem to penetrate much further then your average annoyance noises... in anycase it will insulate your space and it will buffer the noise if not completely keep it within the space... now you will want to keep an eye on your enviroment if you follow this protocol to sound proof your space because it will be sealed basically and you will want adequate air exchange and circulation (all will change if the room isnt already sealed and will leave you having to "re-fine tune" your spaces enviroment) temps, humidity, air flow, air exchange, all of this is subject to change here so be aware... hope this helps good luck
