The recently-emerging compressed sensing (CS) theory makes GNSS signal processing at a sub-Nyquist rate possible if it has a sparse representation in certain domain. The previously proposed code-domain compression acquisition algorithms have high computational complexity and low acquisition accuracy under high dynamic conditions. In this paper, a GNSS signal acquisition algorithm based on two-stage compression of the code-frequency domain is proposed. The algorithm maps the incoming signal of the same interval to multiple carrier frequency bins and overlaps the mapped signal that belongs to the same code phase. Meanwhile, the code domain compression is introduced to the preprocessed signal, replacing circular correlation with compressed reconstruction to obtain Doppler frequency and code phase. Theoretical analyses and simulation results show that the proposed algorithm can improve the frequency search accuracy and reduce the computational complexity by about 50% in high dynamics.