I am holding f1 visa and now planning to take a semester break but would like to stay in US as my spouse (H1 visa holder) is here. Is there a way to do so?

Talk to international office at your school... you may be able to take a break if you have good reason, and the term is less than 5 months. All schools are required to report your attendance and status to DHS, don't make decision on your own.