Acrobat currently provides no built-in method for doing this. The general name for this type of functionality is imposition.
There are some third party applications and third party Acrobat plug-ins (such as Quite Imposing from Quite Software) that do a very admirable job in providing various types of n-up, step and repeat, booklet making, and other imposition functions.
Others place PDF pages into InDesign pages and export PDF/X-4 to achieve similar effects.
What you should not do is “refry” the PDF (print to the Adobe PDF printer in Windows to get a new PDF file), despite what other alleged experts might tell you. That process very often results in a degraded PDF file with transparency, color management, searchability, links, bookmarks, etc. lost or damaged.
- Dov