Devstack & Microstack both provide deployment of Openstack on single node.
Is there any fundamental difference between them?
Devstack link: https://docs.openstack.org/devstack/latest/
Microstack link: https://ubuntu.com/openstack/install
Is there any advantage/disadvantage using one over other?
I know nothing about either project, but reading the pages you link to suggests they have fundamentally different implementation and use cases.
DevStack is built from bleeding-edge sources, and is intended exclusively for testing and contributing to the OpenStack technologies themselves:
MicroStack is a polished installable package, which can be used for prototyping systems built with OpenStack, and even deployed to production: