The Blood elves only joined forces with the Naga because they were desperate. Had they not done so, the Scourge that was encroaching on Dalaran would have slaughtered them all. Silvermoon and the Ghostlands are still ruined but the Blood elves nowadays are no longer in such a desperate state that they would consider cooperation with the naga.
The Kaldorei and Ren'dorei are not desperate for allies either, but they have a clear story connection with the Naga, one that the Blood elves lack, or do not have to the same extent. The Kaldorei and the Naga were enemies during the War of the Ancients, and a story of forgiveness and reconciliation can be told here, and both the Ren'dorei and Naga are victims of the Void. Alleria, Umbric, and the Ren'dorei were transformed by the Void Naaru/Void Ethereals, while the Naga were transformed by the Old God N'Zoth.
Whatever connection any Horde race might have with the Naga, it is not nearly as interesting as the clear thematic link between Naga and these two aforementioned Alliance races.
Furthermore, this hypothetical race would be redundant in the Horde, as the Nightborne already represent the fantasy of "decadent Highborne remnant race".