What version of Premiere Elements are you using and on what computer operating system is it running?
This sounds like a split screen effect to me.
If so, one view on Video 1 and the other directly above that is the other view on Video 2.
Then crop each so that each occupies 1/2 the Edit area monitor screen.
(generalized since I do not know your program version, see effects Transform/Crop).
I wrote the following in 2011 for a Premiere Elements 8 user in another forum
Your basic tools to achieve your goal are Crop Video Effect and Horizontal Flip Video Effect.
Video ONE on video track 1.
Video TWO on video track 2, directly above Video ONE.
Highlight Video ONE on video track 1, Edit Mode/Effects/Video Effects/Transform/Crop, followed by adjusting the crop under Edit Effects (see bottom of Effects Panel) so that Video ONE occupies the left half of the screen.
Do the same for Video TWO on video track 2, Edit Mode/Effects/Video Effects/Transform/Crop etc. so that Video TWO occupies the right half of the screen. BUT end with Edit Mode/Effects/Video Effects/Transform/Horizontal Flip.
Highlight the video on either side to make adjusts in the Properties Palette and appropriate Panel (position, cropping, etc). But, remember that if you make changes in the "flipped" right side of the screen, Edit Effects/Crop Panel right option will be for left and left option will be for right.
You may or may not need the "flip" part of the effect.
Please review and consider. If I have misinterpreted your question, please let me know with details and I will rethink what you seek.
Many Thanks, worked a treat, for the record Elements 12 and Window 7 professional
Glad the suggestion worked for you.
The follow up is much appreciated.