This is what I thought at first glance (no code):
* Have two RenderTextures, two Views and two Sprites for each player.
* Both Views, which you will use to follow the players, should have the same rotation.
* The Sprites should have their textures' set to the RenderTextures' textures.
* Place one of the Sprites right below the other (sprite2.setPosition(0, sprite1.getGlobalBounds().height))
* Have a third RenderTexture (or draw straight to your window) and a third View.
* This third View should have the same rotation of the previous Views.
* Position the third View to the middle of the two sprites (view3.setCenter(sprite1.getGlobalBounds().width / 2.f, sprite2.getPosition().y))
* Don't forget to set our third RenderTexture's view to this third View.
* Then you have renderTexture1 draw player 1, renderTexture2 draw player 2, and renderTexture3 draw renderTexture1 and 2 through sprite1 and sprite2.