There are a variety of methods you can use to perform laser rangefinding underwater. We have a dedicated system called PROXIS.
Alternatively, we have just released a series of underwater subsea laser image scaling systems (uses 4 or 5 individual laser pointers) under the brand APEX which is a competitor instrument to the device mentioned above.
APEX combines a digital stills camera with laser rangefinder and area measurement capability.
You can download a specifications sheet for an APEX from the following web-page;
http://www.savante.co.uk/2013/04/apex-lite-underwater-subsea-image-scaling-laser/
or direct link to .pdf
http://www.savante.co.uk/wp-content/uploads/2013/12/savante-apex-spec-sheet.pdf
The advantage of the APEX subsea underwater laser is that it dispenses with the need (and cost) of hiring multiple laser units and fabricating a bracket to mount them in a controlled and repeatable manner. HOWEVER, some of our other clients of ours have used multiple units of either;
Aquantum
http://www.savante.co.uk/2011/10/aquantum-underwater-laser-subsea-laser-rov-laser-diver-laser/
or
Lumeneye
http://www.savante.co.uk/subsea-laser-modules/lumeneye-underwater-subsea-rov-laser-module/
subsea lasers mounted in bespoke brackets manufactured from acetyl (Delrin). Taking photographs of the lasers, overlaid over the target and knowing the angles between the two lasers can then be used to determine range.
Some projects involving this may be reviewed at;
Subsea environmental seabed baseline surveys using subsea lasers
http://www.savante.co.uk/portfolio-items/atlantic-environmental-seabed-survey-using-subsea-lasers/
Boulder surveys using subsea lasers (could also be used for pre-trenching or pre-lay surveys
http://www.savante.co.uk/portfolio-items/boulder-classification-using-subsea-underwater-laser-image-scaling/
Marine fauna and flora seabed surveys using subsea lasers
http://www.savante.co.uk/portfolio-items/seabed-survey/