Only if you take extremely much. If you are insanely unlucky you could have some temporary tinnitus from it, but that's very, very rare. If you take 1-2 it should be perfectly fine.
A small dose of Paracetamol isn't any harmful. But keep in mind that it's not always effective to take the pain away for some people. Every time I've taken such painkiller, it did nothing and I just had to wait it out to go away.
You should be fine taking it. It doesn't help with my headaches, so I usually take naproxen without any issue. These medications are usually only a problem at very high doses for long periods of time.
I took 1g Paracetamol regularly for tooth pain during two/three weeks a few months ago and it never caused any spike nor hearing problem. I hope your headache subsides soon - one drop of peppermint essential oil rubbed on the temples often soothes mine, if it can be of any help.
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