laugh vs funny story

laugh and funny story both are nouns.

Word	Noun	Adjective	Verb	Adverb
laugh	Yes	No	Yes	No
funny story	Yes	No	No	No

As nouns, funny story is a hyponym of laugh; that is, funny story is a word with a more specific, narrower meaning than laugh:

laugh (noun)	funny story (noun)
the sound of laughing	an account of an amusing incident (usually with a punch line)
a humorous anecdote or remark intended to provoke laughter
a facial expression characteristic of a person laughing

laugh (verb)	funny story (verb)
produce laughter