In just a few lines, this short exchange shows someone who has lost the ability to feel joy. The woman asks how long it has been since she last laughed, and the question itself tells us she can't remember. The man answers lightly, almost casually, as if the matter were simple: didn't you laugh yesterday? He seems to believe that a laugh is a laugh, and that it counts.
Then she laughs, and the poem marks it as an action rather than a sound. But the final word, "no," undercuts it. She has just laughed, yet she denies it. The laugh was empty, a reflex without any feeling behind it. That gap between the noise and the emotion is the heart of the poem.
The mood is quiet, sad, and a little lonely. The title, "Broken Princess," suggests she is someone fragile, and the man seems unable to see how deep the problem goes. Nothing dramatic happens, which makes the sadness feel more real.