Pour water in a multi-functional pressure cooker (such as Instant Pot). Add spaghetti and mix to ensure noodles are separate.
Close and lock the lid. Select high pressure according to manufacturer's instructions; set timer for 10 minutes. Allow 10 minutes for pressure to build.
Release pressure carefully using the quick-release method according to manufacturer's instructions, about 5 minutes. Unlock and remove the lid. Place noodles in a covered dish and keep warm.
Add meatballs, crushed tomatoes, and minced garlic to the Instant Pot®. Stir to ensure meatballs are covered by the sauce.
Close and lock the lid. Select high pressure according to manufacturer's instructions; set timer for 10 minutes. Allow 10 minutes for pressure to build.
Release pressure carefully using the quick-release method according to manufacturer's instructions, about 5 minutes. Unlock and remove the lid. Season with garlic powder, Italian seasoning, sugar, salt, and oregano. Stir to combine.
Place noodles in a bowl and serve with meatballs and sauce.