Fortunately, Microsoft has a KB article on how to fix this that works. Just follow the steps and you should have your print spooler service back in order. I'll reproduce the essential steps here. The article has the details.
1. Restart the computer in Safe Mode
2. Delete all files and folders in the following folders:
- Print Processors
- BJ Language Port
- Local PortPJL Language Monitor
- Standard TCP/IP Port
- USB Monitor