In this study, two revised indicators, the size and depth of ecological footprint, as the basis for accounting for flow capital occupation and stock capital depletion of water-energy resources, respectively, were selected to evaluate water resource capital utilization (WRCU) and energy capital utilization (ECU) in the Four-City Area in Central China (FcACC) from 2010 to 2020. The coupling coordinated relationship between WRCU and ECU in the FcACC was discussed by using the coupling coordination degree (CCD) model. The results showed that WRCU and ECU of 37 regions were divided into four types, and the intercity pattern had obvious regional agglomeration. The utilization level of stock capital and flow capital generally presented a complementary situation in the FcACC. Slight depletion types of stock capital were the main type of regional WRCU and ECU in the FcACC. The D value of the WRCU and ECU in the FcACC overall showed a downward trend, and the basic coordination (BC) between water resource flow capital occupation (WFCO) and EFCO was the main coordination status. Furthermore, the coordination status and capital utilization level of each region changed over time.