Updating module using _update_n not appearing on update.php or in /modules/update
Rename cloudinary_update_7200 to cloudinary_update_7100 in case if you are using 7.1 version (refer to hook_update_N) and try once again.
If it doesn't work perform SQL query to figure out the number of the latest performed update  of the module:

SELECT schema_version FROM system WHERE type = 'module' AND name = 'cloudinary';

If it is 0 - 7100 should work, if it is for instance 7101 - try cloudinary_update_7102.