General Overview
There are a lot of good articles out there that can help you with this. This is more of specific examples on how to do it between 2 localhosts.
Some references:
Preparing for an Upgrade (READ FIRST)
Migrating with Drush
You will need a few extra modules to get started with this route: Migrate Upgrade , Migrate Plus
Double check if you need any special modules for your content as mentioned in the Preparing for an Upgrade link above.
Kalabox
Grab both sites and download them into kalabox.