Hi,
The Android app doesn't include an EQ as it just taps into whatever you have on your system. Some phone manufacturers disable the stock Android EQ but do not add their own, If this is the case you need to install an app such as ViPER4Android FX (which is what I use, but does require Root & BusyBox to be installed), or Equalizer and the option will appear in the Spotify app. Clicking on it will take you to the EQ app where you can control the settings.
FYI:- xda thread for V4A with setup guide, tips and support is: http://forum.xda-developers.com/showthread.php?t=2191223
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