For the Android N release, we already combined Chrome and WebView into "Monochrome", which is a single APK. There's no public build target for this yet, however.
Due to WebView's complex loading mechanism, it's difficult to do this in the way you describe (separate APKs), and it saves much more space to combine everything anyway, but the mechanisms in the framework to enable this to work are new in N and will not work on earlier Android releases.