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As khaiwong pointed out, there are hot keys for doing this, but I only recently learned about them. It would be nice to add this to the "right click" context menu.
SAS EG and Visio both have auto-arrange features that resemble the functionality described, namely not only aligning tools on the canvas, but distributing them, as well as pin/snap-in options.
Would be interested in hearing whether Alteryx has any plans to build this out.