Is there any way to friend other stack exchange users? My friend and I could not find this option on our profiles.
3ventic is correct that there is no "friend" or "follow" features and likely will not be. To see more discussion on that, check out this meta.SO.
If you want to follow users for some reason (maybe you like reading their questions/answers) there is one fairly easy way. On a user's profile, in the bottom right corner, there is an RSS feed for that user.