Is the LDS's view of Trinity/Godhead considered monotheistic or polytheistic? With the LDS view that the Trinity is three beings would that mean they (LDS) are monotheistic or polytheistic?
There is more to polytheism than simply believing in multiple divine beings.  One of the hallmarks of polytheism is multiple gods, each with their own domain and their own agenda.

To use a culturally familiar example, in the Greek pantheon, Zeus was the father of the gods, god of the sky and thunder and lightning. Hera was his consort, and she was constantly squabbling with him because he was constantly cheating on her with mortals. From one such indiscretion sprang a great hero who Zeus named Herakles (aka Hercules), meaning the glory of Hera, to try to appease her wrath. (It didn't work. She hated him.)  Meanwhile, they had Ares (God of War,) Hades (God of the Dead,) Poseidon (God of the Oceans,) Aphrodite (Goddess of Love and Beauty,) Athena (Goddess of Wisdom,) and several others.  And they were constantly fighting with each other, either directly or by proxy through meddling in the affairs of mortals.  Similar social interactions are seen in polytheistic systems all over the world, throughout history.

By contrast, Latter-Day Saints believe that the Father, the Son and the Holy Ghost are each individual divine beings, each with different roles in administering God's plan, but their "domain" is all of creation, and they act in perfect harmony and agreement.  Together, they are our (single) God, in much the same way as various forms of governing councils work and act together here on Earth.  (And the more harmonious such governing bodies are, the more efficiently their agenda tends to be accomplished.)

The fact that we say that each of the three is a God (a divine being) and that together, they are one God (the ruling body of Creation) is more a failing of the language than a bad description, much like the way a man could say "I love my wife" and "I love chocolate" and mean two different things by the word "love".