We study the interaction of intense, sub-cycle, and few-cycle laser pulses with xenon clusters for the generation of mono-energetic electron bunches. For this purpose, we used three dimensional, relativistic, molecular dynamics simulations. In this work, we used two mutually perpendicularly polarized (MPP) pulses separated by a finite temporal phase delay. The first pulse is responsible for the generation of electrons by field ionization of atomic clusters. However, the second pulse tends to accelerate the electrons (created by the first pulse) as a bunch. The effect of phase delay, pulse duration, and peak laser intensity on the generation of energetic electron bunches is studied. Under optimum conditions, the electrons are found to be accelerated to energies as high as 2.5 MeV. The feasibility of further acceleration of these electron bunches utilizing laser wakefield acceleration is also explored in this work by treating the accelerated electron bunch by MPP pulses as an initial condition to the nonlinear one-dimensional laser wakefield equations. The rough estimate of the final accelerated electron energies after laser wakefield acceleration has also been made.