The Rick Steves England guidebook recommends the Swan Hotel, a Best Western Plus facing the cathedral with 53 rooms. Prices vary for their Tudor-style rooms, some with four-poster beds. It has a pub, and they also rent five self-catering apartments in the village - www.swanhotelwells.co.uk . Have not personally stayed with them, so can’t offer further information.
His guidebook also lists Middle Farm Cottage, a “small and cozy B&B,” in the village of Dinder, 2.5 miles outside of Wells. If that’s not too far away, search for Middle Farm Cottage at www.sawdays.co.uk .