Dimensionless Reynolds number, as other famous dimensioneless numbers (Froude, Cauchy, Weber, and Euler), is the ratio of two forces.
In the case of the Re, it is the ratio of inertia forces to viscous forces: [ρ]L2V2/([μ]VL) = [ρ]VL/[μ] as given by Montemayor. Where for pipe flow:
V=velocity
[ρ]=density
L=diameter
[μ]= viscosity
In consistent units.