Can I Claim my wife as a dependent since she is a stay at home mom

[MargaretL]

No, you can't. A spouse can never be your dependent.  

However, when you file jointly with your spouse and she has no income, you still get two exemptions, one for you and one for her - which will reduce your taxable income just as if she is your dependent. 

Filing jointly is always more beneficial than filing separately; even more so if only one spouse has income.