This answer is just a more elementary (but not simpler), more calculatory and less geometric way to express what Ivo Terek and Ted Shifrin described.
Let $U \subset \mathbb{R}^2$ be an open set (which we don't exactly know for the moment) and let $\psi : U \to \mathbb{R}^2 : (x,y) \mapsto (u,v)$. Its derivative $D\psi$ is represented (in coordinates) by a matrix
$$ \left( \begin{array}{cc} \partial_x u & \partial_y u \\ \partial_x v & \partial_y v \end{array} \right) =: \left( \begin{array}{cc} A & B \\ C & D \end{array} \right) \, .$$
Assume that the Euclidean metric on the $(u,v)$-plane has the expression $y^2 dx^2 + x^2 dy^2$ with respect to the coordinates $(x,y)$. This means that $A^2+C^2 = y^2$, $B^2+D^2 = x^2$ and $AB+CD = 0$. By inspection, we see that setting $A= y \cos(f(x,y))$, $B=-x \sin(f(x,y))$, $C=y \sin(f(x,y))$ and $D = x \cos(f(x,y))$ with $f$ any function, we satisfy these three equations.
(Observe that this 'inspection' can be conceptually justified by first renormalizing the vectors $(D\psi) \partial_x$ and $(D \psi) \partial_y$ to be (ortho)normal as in Ivo Terek's answer and then performing an Euclidean rotation by an angle $f$ to the 'standard Cartesian orthonormal frame' as in Ted Shifrin's comment.)
Note however that $f$ has to be chosen in such a way that $A = \partial_x u$, etc. If such a choice exists, then since $\partial_y \partial_x u = \partial_x \partial_y u$, we have the constraint $\partial_y A = \partial_x B$, that is
$$ \cos f - f'_y y \sin f = - \sin f - f'_x x \cos f \, \mbox{ i.e } \, (1- f'_y y) \sin f = -(1 + f'_x x) \cos f. $$
With a similar reasoning for $v$, we have the constraint $\partial_y C = \partial_x D$ which yields
$$ \sin f + f'_y y \cos f = \cos f - f'_x x \sin f \, \mbox{ i.e } \, (1 + f'_x x ) \sin f = (1 - f'_y y ) \cos f. $$
This is possible only if $-f'_x x = 1 = f'_y y$, whence
$$f'_x = -1/x \Rightarrow f = - \log x + g(y) \Rightarrow f'_y = g'(y) = 1/y \Rightarrow g(y) = \log y + C \, .$$
We thus obtain $f(x,y) = \log(y/x) + C$ for some constant $C$, which we shall choose to be $0$ for simplicity. We now know what should be the functions $A, \dots, D$ if the function $\psi$ is to exist (because of the Poincaré lemma, if $U$ is simply-connected, such a map $\psi$ exists ; note also that for $A, \dots, D$ to be defined, the coordinates $x$ and $y$ can't vanish on $U$).
What remains to be done is to compute $u$ and $v$...
Observe that setting $U = -xy \sin \log(y/x)$ and $V = xy \cos \log(y/x)$, we get $\partial_x U = -C + A$, $\partial_y U = B -D$, $\partial_x V = A + C$ and $\partial_y V = D + B$. It is easy from there to check that $u = (U+V)/2$ and $v = (V-U)/2$ are solutions to the problem.