Large-scale pre-training of deep models, followed by fine-tuning them, has become the cornerstone of natural language processing (NLP). The prevalence of data coupled with computational resources has led to large models with a considerable number of parameters. While the massive size of these models has led to remarkable success in many NLP tasks, a detriment is the expense required to retrain all the base model's parameters for the adaptation to each task or domain. Parameter Efficient Fine-Tuning (PEFT) provides an effective solution for this challenge by minimizing the number of parameters required to be fine-tuned while maintaining the quality of the model. While existing methods have achieved impressive results, they mainly focus on adapting a subset of parameters, weight reparameterization, and prompt engineering. In this paper, we study layers as extractors of different types of linguistic information that are valuable when used in conjunction. We then propose the Mixture of Layer Experts (MoLEx), a novel sparse mixture of experts (SMoE) whose experts are layers in the pre-trained model. It performs a conditional computation of a mixture of layers during fine-tuning to provide the model with more structural knowledge about the data. By providing an avenue for information exchange between layers, MoLEx enables the model to make a more well-informed prediction for the downstream task, leading to better fine-tuning results with the same number of effective parameters. As experts can be processed in parallel, MoLEx introduces minimal additional computational overhead. We empirically corroborate the advantages of MoLEx when combined with popular PEFT baseline methods on a variety of downstream fine-tuning tasks, including the popular GLUE benchmark as well as the End-to-End Challenge (E2E). The code is publicly available at https://github.com/rachtsy/molex.