Lynn Ahrens & Stephen Flaherty already wrote one. There was a LORAX subplot in SEUSSICAL that was cut, and I believe that MTI licenses that LORAX sequence as an independent musical (I think it's only 30min in length?).
"The Spectacle has, indeed, an emotional attraction of its own, but, of all the parts, it is the least artistic, and connected least with the art of poetry. For the power of Tragedy, we may be sure, is felt even apart from representation and actors. Besides, the production of spectacular effects depends more on the art of the stage machinist than on that of the poet."
--Aristotle