A VMC (vertical machining center) has a vertical spindle pointing down at a table; an HMC (horizontal machining center) has a horizontal spindle cutting from the side. The orientation changes everything about how they cut and what they're best at.
VMC
Cheaper, more versatile, easier to set up and watch. Ideal for flat/prismatic parts, molds, plates and single-face work. Chips can pile on the table, so it favors lighter-to-medium cutting. The default first machine for most shops.
HMC
Chips fall away from the cut, enabling heavier, sustained metal removal and longer tool life. Comes with a rotary pallet + automatic pallet changer and tombstone fixtures, so it machines many parts/faces per setup. Dominates high-volume, lights-out production — at a higher price and footprint.
Bottom line
Choose a VMC for versatility, lower cost and varied work; choose an HMC for production volume, unattended running and heavy cutting. Many shops run VMCs for prototype/short-run and HMCs for their bread-and-butter production.