If you and your spouse want to exchange gifts, then it’s nobody’s business (unless your rav holds that you shouldn’t).
I would recommend one large gift and make sure your spouse knows that that’s it! You don’t want to give him chatchkes. I believe in discussing with a spouse how much to spend on gifts and what type (s)he likes, some people like necessities, while others prefer luxuries (go ahead, start a new thread about it!).