The ‘val’ value is the x-value of the intersection, however you need to start fzero in the correct region for it to return the correct value. It is then straightforward to calculate the y-value from either Gaussian function, since they are both approximately the same at that point.
I changed your code slightly so it returns the correct results:
mu1 = 160;
var1 = 20;
mu2 = 175;
var2 = 15;
yfun = @(mu,var, x)(2*pi*(var))^(-0.5)* exp(-((x-mu).^2)/(2*(var)));
val = fzero(@(x) yfun(mu1, var1, x) - yfun(mu2, var2, x), mean([mu1,mu2]))
yval = yfun(mu1, var1, val)
Experiment to get the result you want.