Can I use my desktop tower’s CD drive to download Windows XP Home to an Acer laptop via a data migration cable?
What do you mean by "download" and "data migration cable"? Do you want to install Win XP in your Acer laptop using the CD drive of your desktop? I assume you want to do this because the CD drive of your laptop is not working properly, if that is the case I would actually recommend this method instead:
Use your desktop to create a bootable USB with Win XP in it from where you can install XP on any computer with a working USB port: http://downloadsquad.switched.com/2009/08/27/make-a-bootable-usb-installer-for-windows-xp-vista-7-with-wint/
You can always try to share the desktop's CD drive and then search it from your laptop, but if you want to install Win XP in your laptop that will require quite a lot of work with command line and stuff that I am unable to help you with, sorry.