I agree with Carol: have the dresser appraised first. However if you're bound and determined...
Pine can be used for tops on violins but I'm not sure about guitar. For one thing a six string guitar has about 165 lbs of tension applied to it through the strings and bridge to the soundboard whereas a violin has about 80 lbs or so. This is even worse for a guitar since it's larger and that tension has more leverage to work with to warp the top. The problem with a violin top is that it's carved into the arch from a piece (or bookmatched and glued halves) that's about 5/8" thick. Guitar tops on the other hand are around 1/8" thick so you'd have some room to work with there. However, assuming the grain runs lengthwise, if the pieces are only 15" wide you would have to make a OO size guitar if you wanted to use a single piece for the top: dreadnoughts are 15.5 - 16" across at the lower bout and OOO's are just around 15" (doesn't allow for any waste). The larger guitars would require you to saw lengthwise to get two pieces 15" wide x 5/32" thick and then bookmatch them. Since that would demand a perfectly straight cut and would only leave 1/32" margin in thickness, without accounting for saw blade thickness, I don't think there's enough material. All things considered, a smaller guitar with a slightly shorter scale length (say 24.5") might be possible.

If you decide to go ahead with the instrument, let us know how it turns out.

Hope this makes some sense,
- Dave T

PS - Taylor did make a guitar out of pallets, but that's really a promotional piece. I doubt the sound quality is really that great: as my grandma used to say "You can't make a silk purse from a sow's ear"