Mystery...
I actually had one of my dendrobium (the den phal type also) having the same issues.
I had it for a couple of years and the whole time I had it, it grew and bloomed (4 times) fine.
Then this spring, it put out two new canes.
One of the new canes began to show these same symptoms. I initially thought mites, but did not find anything. Mine only had marks on the underside of the leaves and some on the cane where the leaves attach.
Mine was actually growing fine, and the indentation marks were a bit smaller in size, but there were many, and there were mostly near the end where leaves attach to the cane.
I actually really freaked out over it and just pitched it in fear of whatever it is might jump onto my other more valuable plants.
I thought about giving it away because it was otherwise growing fine and was coming into spikes. It is also very floriferous and fragrant hybrid, but not knowing what the issue was, I thought it was not a nice thing to give it to someone.
Sorry, I can't be of much help.
Keep an eye on it and also, try and wipe the leaves often.
Segregate it away from other plants if that is an option for you.
Last, one other occasion that I saw something similar to this was the slug damage on my slipper orchid.
Normally, large garden snails or slugs will eat tender leaves like edible veggies, flowers, or root tips, and leave holes.
I did not expect they will attack rather hard and thick leaves of lady slippers, but one of mine had quite a few brown and indented marks on both sides of the leaves.
I first thought fungal disease and was so upset as it was a potentially great hybrid.
I sprayed and decided to see if the symptoms worsen before tossing. That's how much I loved the plant and it is not commonly available one.
Well, then one night as I was on a nightly snail watch, I thought I would peek into this plant just in case.
Guess what I saw!
A big fat slug attacking my lady slipper! I was so shocked but at the same time so happy to find out the cause of the troubled brown marks.
I picked the slug up and killed it right on the spot.
The done damage is going to be lasting scars, but at least no more marks are being made.
I doubt yours is slug or snail damage, but take a look at night just in case. You might be surprised to see a big snail crawling all the way up to the cane and attack the leaves. Just a suggestion.