Photoshop is not a layout package, and to the best of my knowledge, does not have anything approaching Paint Shop Pro's 'Print Layout' option.
If I understand you correctly, you are looking to print two or more images on a single sheet of paper to cut out seperately later (I'm assuming to save paper).
To do this in Photoshop you would need to create a new document with the dimensions of your print paper, then copy+paste your images into this document. Not an elegant solution, I know.
Another option (depending upon your printer) is to use Photoshop's 'Print with Preview'. Here you can choose the position on the page the image will be printed. If you work it right, you should be able to print your first image, cut it out carefully (cut out just the image with an Xacto knife or similar, leaving the page edges intact) then run the same paper back through the printer for photo #2.
Yet another option is available if you also have a copy of InDesign. InDesign is Adobe's layout package. You should be able to create a template or document and File >> Place your Photoshop files. InDesign, however, has as large of a learning curve as Photoshop, so don't expect results overnight. It will, however, blow just about any photo-editing packages' layout abilities out of the water. This is pre-press quality software.
* Note, I use Photoshop & InDesign CS2, older versions may differ greatly.
Hope this helps.
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