Let $H$ be a finite dimensional pointed rank one Hopf algebra of nilpotent type. We first determine all finite dimensional indecomposable $H$-modules up to isomorphism, and then establish the Clebsch-Gordan formulas for the decompositions of the tensor products of indecomposable $H$-modules by virtue of almost split sequences. The Green ring $r(H)$ of $H$ will be presented in terms of generators and relations. It turns out that the Green ring $r(H)$ is commutative and is generated by one variable over the Grothendieck ring $G_0(H)$ of $H$ modulo one relation.  Moreover, $r(H)$ is Frobenius and symmetric with dual bases associated to almost split sequences, and its Jacobson radical is a principal ideal. Finally, we show that the stable Green ring, the Green ring of the stable module category, is isomorphic to the quotient ring of $r(H)$ modulo the principal ideal generated by the projective cover of the trivial module. It turns out that the complexified stable Green algebra is a group-like algebra and hence a bi-Frobenius algebra.