What version of Premiere Elements are you using and on what computer operating system is it running?
The Shake Stabilizer is only found in Premiere Elements 13/13.1.
See Screenshot of Premiere Elements 13/13.1 Expert workspace and Adjust Tab opened to Adjustments Palette showing Shake Stabilizer (2nd down)
Please review, consider, and supply more details. Any questions or need clarification, please do not hesitate to ask.