Using symmetry breaking strain to tune the valley occupation of a two-dimensional (2D) electron system in an AlAs quantum well, together with an applied in-plane magnetic field to tune the spin polarization, we independently control the systems valley and spin degrees of freedom and map out a spin-valley phase diagram for the 2D metal-insulator transition. The insulating phase occurs in the quadrant where the system is both spin- and valley-polarized. This observation establishes the equivalent roles of spin and valley degrees of freedom in the 2D metal-insulator transition.