Is laughing a pronoun

No, the Word 'laughing' is the present participle, present tense of the verb to laugh.

The present participle of the verb also functions as an adjective and a gerund, a verbal noun.

Examples:

The kids were laughing at my attempt to dance. (verb)

I stopped to see what the laughing crowd was looking at. (adjective)

The laughing was coming from Ms. Wood's room. (noun)

A pronoun is a Word that takes the place of a noun in a sentence.

Example: The laughing was coming from Ms. Wood's room. It could be heard up and down the hallway. (the pronoun 'it' takes the place of the noun 'laughing' in the second sentence)