The Laplace transform was really invented by Oliver Heaviside, who was studying time evolution systems, especially for the equations of Electromagnetics, and for electronic circuits. He reasoned that time evolution systems for unchanging systems must have an exponential property. That is, if you start with the initial state of the system $x_0$ and evolve it through $t$ seconds to obtain $E(t)x_0$, and then evolve that state through $t'$ more seconds, you should get the same thing if you were to evolve the initial state through $t+t'$ seconds. That led to the abstract solution operator with an exponential property:
E(t')E(t)x_0 = E(t'+t)x_0.
And that grew into the Laplace transform. The Laplace transform is normally used for the time variable on $[0,\infty)$. The Laplace transform is ideally suited for studying the time variable because of how it was designed, and it allows for instable systems with exponential blow-up in time, which happens with instable circuits, for example.
The Fourier transform was designed to work on a full spatial variable on $(-\infty,\infty)$ though the Fourier sine and cosine transforms work equally as well on $(0,\infty)$. These transforms are better suited for situations where the functions in the original variable vanish at the infinite endpoint(s).
There is nothing that would keep you from using the Laplace transform in time with a Fourier transform in space. But usually application of one or the other is enough to replace the derivatives in the transformed coordinate to something algebraic, and that may be the only reduction you need.