Yes, and it’s actually a really popular combo for visitors. If you don’t want to rent a car (which is smart—parking at Muir Woods is a pain), the best move is to book a small group or half-day tour that includes both stops. These tours usually pick up near Fisherman’s Wharf or Union Square and give you about 90 minutes in Muir Woods and free time in Sausalito.
If you want to do it on your own, plan to take a ride share or taxi to Muir Woods early in the morning. Parking permits at the park are required and usually booked out weeks ahead, so skip driving yourself. After Muir Woods, you can take a rideshare or a Marin transit bus down to Sausalito. From there, the ferry back to SF is a relaxing way to end the day with Golden Gate views on the way back.