iOS 7 new phone restore
It seems like you have already completed a base setup of your new iPhone (meaning, you have used the Setup Assistant to set it up and have reached the home screen). In that case, follow these steps to restore the old phone's iCloud backup into the new iPhone:


Go to Settings > General > Reset > Erase All Content and Settings and erase it (enter passcode if prompted). The phone will then restart.
Ensure you have a WiFi connection, and when the Setup Assistant shows up

Proceed to Set up your device
Tap Restore from a Backup
Then sign in to iCloud
Proceed to Choose backup, then choose from a list of available backups in iCloud.



See:
Restoring from a previous iCloud backup
Restore from iCloud