combine horizontal gauge and vertical gauge as a Cartesian coordinate

Update: A function that adds axes that look like HorizontalGauge and VerticalGauge to an input graphics object:

ClearAll[marker, addGaugeAxes]

marker[rotation_: Pi/3, color_: Red] := Graphics[{Opacity[0], Disk[], 
      Opacity[1], color, Rotate[SSSTriangle[1, 1, 1], rotation, {0, 0}]}, 
    ImageSize -> 40]

addGaugeAxes[xrange : {xmin_, xmax_}, yrange : {ymin_, ymax_}, 
   nticks_List: {{6, 6}, {6, 6}}, tl_Real: .025, colors_List: {Red, Blue}, 
   opts : OptionsPattern[]][g_Graphics: Graphics[{}]] :=
 DynamicModule[{x = Mean @ xrange, w = ymin, z = xmin, y = Mean @ yrange},
   Show[Graphics[{Locator[Dynamic[{x, w}, ({x, w} = {Clip[#[[1]], xrange], ymin}) &], 
      marker[]], 
     Locator[Dynamic[{z, y}, ({z, y} = {xmin, Clip[#[[2]], yrange]}) &], 
      marker[-Pi/6, Last @ colors]]}, 
    PlotRange -> {xrange, yrange}, 
    Frame -> {{True, False}, {True, False}}, 
    FrameTicks -> {{Charting`ScaledTicks[{Identity, Identity}, 
          TicksLength -> {tl, tl/2}][##, nticks[[1]]] &, Automatic}, 
        {Charting`ScaledTicks[{Identity, Identity}, 
          TicksLength -> {tl, tl/2}][##, nticks[[2]]] &, Automatic}}],
    g, opts]]

Examples:

With default input (an empty graphics) we get the axes only:

addGaugeAxes[{0, 5}, {-2, 2}][]

g1 = Graphics[{Opacity[.5], Green, Disk[{0, 0}, .75]}];
addGaugeAxes[{-1, 1}, {-1, 1},  ImageSize -> 500][g1]

We can add options that make use of the dynamic values of the two gauges:

g2 = Plot[Sin[x], {x, 0, 2 Pi}, PlotStyle -> Thick];

addGaugeAxes[{0, 2 Pi}, {-1, 1}, {{5, 5}, {10, 5}},  
  ImageSize -> 500, 
  GridLinesStyle -> {Directive[Red, Dashed], Directive[Blue, Dashed]},
   GridLines -> {{Dynamic[x]}, {Dynamic[y]}}, AspectRatio -> 1/2][g2]

Original answer:

You can use Grid and manually adjust the spacings:

{x, y} = {5, 5}; 

Grid[{{HorizontalGauge[Dynamic[y], {0, 10}, 
    GaugeStyle -> Red, 
    GaugeLabels -> Placed[Style["Y", 16], Top], 
    PlotRange -> {Automatic, {0, 1}}, 
    ImagePadding -> {{Scaled[.03], Scaled[.0]}, {Scaled[.03], Scaled[.03]}}, 
    Method -> {"GaugeOrigin" -> Bottom, Charting`TickSide -> Left, 
      Charting`LabelSide -> Right, "TickLength" -> {{.2, 0}, {.1, 0}}}, 
    ImageSize -> 1 -> 300, 
    LabelStyle -> 14],
   Graphics[{Gray, Disk[{3, 3}, 2], 
      Green, AbsolutePointSize[15], Dynamic@Point[{x, y}]
      Locator[Dynamic[{x, y}], None]}, 
    PlotRange -> {{0, 10}, {0, 10}}, 
    ImageSize -> 1 -> 30, 
    ImagePadding -> Scaled[.02], 
    GridLines -> Dynamic@{{0, 10, {x, Blue}}, {0, 10, {y, Red}}}, 
    GridLinesStyle -> Directive[Gray, Thin, Dashed], 
    Method -> {"GridLinesInFront" -> True}]},
  {"", HorizontalGauge[Dynamic[x], {0, 10}, 
    GaugeStyle -> Blue, 
    GaugeLabels -> Placed[Style["X", 16], Bottom], 
    PlotRange -> {{0, 1}, Automatic}, 
    ImagePadding -> {{Scaled[.03], Scaled[.03]}, {Scaled[.03], Scaled[.0]}}, 
    GaugeMarkers -> Placed["Marker", "OppositeScale"], 
    Method -> {Charting`TickSide -> Right, Charting`LabelSide -> Left,
       "TickLength" -> {{.2, 0}, {.1, 0}}}, 
    ImageSize -> 1 -> 300, 
    LabelStyle -> 14]}}, 
   Spacings -> {-3, -3}]

Aside: I used HorizontalGauge with Method sub-option "GaugeOrigin" -> Bottom instead of VerticalGauge:

{VerticalGauge[Dynamic[y], {0, 10}], 
 HorizontalGauge[Dynamic[y], {0, 10}, Method -> {"GaugeOrigin" -> Bottom}]}