Hello Destructiv,
Simple answer is yes, you can bake multiple objects to a single object’s normal map.
And I think the perfect thing for you is Parallax mapping.
It uses the same image as a normal map, just rendered more ...intelligently by the game engine.
Since its a depression, and the player will not be able to see across the model, but only look down into the 'hole' I would definitely suggest using a parallax map as the rods sticking up will be just a texture, but as you rotate around looking into the hole you would never know :D
I can't tell for sure, but it looks like you're using Maya.
In Maya, you can go to the Render menu > Lighting/Shading > Transfer Maps...
The Transfer Maps tool is pretty easy to use if you haven't before.
top section is for your Target mesh or low poly mesh. Just select your low poly model of your basin or depressed surface and click add target.
The next section is for your high poly source mesh or meshes. Select each mesh you want to be baked into the normal map and hit add source on each one.
Then click the normal map out of the selection, adjust the size and what not. There are plenty of tuts on youtube about this if you want more specifics on the mental ray settings and what not, but make sure you either know where you're saving the image to, or go ahead and click the attach to shader check box. When its done you can go look at the file where you saved it or you can see the results of the normal map on your model if you change to high quality rendering in textured mode. You can see it used as a parallax map in maya as well, but you have to set up a mental ray shader to do it. Easy stuff though, and again on youtube :)
Anyway, in Unity choose the parallax specular shader or the like and you're golden.
Hope this helps, Cheers!
- Bergquist