The notion of pressure-altitude, used in aviation and displayed on barometric altimeters, is set by ICAO. It is derived from a model elaborated by WMO and ICAO, two agencies of the United Nations, building on previous work done in the US and in Europe.
ICAO defines pressure-altitude in distinct documents:
In addition, ICAO atmosphere model has been published as ISO 2533 standard, subtitled "identical with the ICAO and WMO Standard Atmospheres from -2 to 32 km", hence compatible with ICAO model. ISO is interlocked with ICAO for updates.
Annex 2 - Rules of the Air
Annex 2 introduces the notion of pressure-altitude and where it is defined:
Pressure-altitude. An atmospheric pressure expressed in terms of altitude which corresponds to that pressure in the Standard Atmosphere. As defined in Annex 8.
This is a pressure measurement converted into an equivalent height above mean see level, according to the model used by ICAO.
Annex 8 - Airworthiness of Aircraft
This document provides a description of what is the standard atmosphere to be used when designing and certifying aircraft performances, e.g. for takeoff and landing at high altitude airports.
Some constant and gradients are provided:


The model and various formulas are fully detailed in the last document.
Doc 7488 - Manual of the ICAO Standard Atmosphere
Details and precomputed tables are provided in ICAO Doc 7488 for various parameters. In particular:
Assuming a linear variation of the temperature with geopotential altitude, the simultaneous solution of the hydrostatic equation (equation (1)) and the perfect gas law (equation (2)) yields the following expression for pressure:
[...]
$$p = p_b \; exp \bigg [ \frac {g_0} {RT}(H-H_b) \bigg ] \quad (13)$$
From in this formula we can derive the relationship pressure-to-altitude. For altitudes below 11km (p in hPa, h in m):
$$h = 44301.59796 \times (1 - (\frac {p} {1013.25})^{0.190284})$$
or equivalent (formula from ISO 2533):
$$h = \frac {3.731444 - p^{0.1902631}} {0.841728 \times 10^{-4}}$$
This gives this curve:

The formulas constants change at 11, 20 and 32 km, following the different temperature gradients in the different atmosphere layers.
Coefficient and exponent values reflect the different factors taken into account to determine the Standard Atmosphere model, including sea level pressure, temperature, density and gravity gradients (see this answer from @fab for details). However this model is simplified, e.g. air is always dry.