We recognise this expression as the right hand side of:
cos(α − β) = cos α cos β + cos α cos β,
with α = x + y and β = y.
We can now write this in terms of cos(α − β) as follows:
cos(x + y)cos y + sin(x + y)sin y
= cos[(x + y) − (y)]
= cos x
We have reduced the expression to a single term.