Accurate indoor localization remains challenging due to variations in wireless signal environments and limited data availability. This paper introduces MetaGraphLoc, a novel system leveraging sensor fusion, graph neural networks (GNNs), and meta-learning to overcome these limitations. MetaGraphLoc integrates received signal strength indicator measurements with inertial measurement unit data to enhance localization accuracy. Our proposed GNN architecture, featuring dynamic edge construction (DEC), captures the spatial relationships between access points and underlying data patterns. MetaGraphLoc employs a meta-learning framework to adapt the GNN model to new environments with minimal data collection, significantly reducing calibration efforts. Extensive evaluations demonstrate the effectiveness of MetaGraphLoc. Data fusion reduces localization error by 15.92%, underscoring its importance. The GNN with DEC outperforms traditional deep neural networks by up to 30.89%, considering accuracy. Furthermore, the meta-learning approach enables efficient adaptation to new environments, minimizing data collection requirements. These advancements position MetaGraphLoc as a promising solution for indoor localization, paving the way for improved navigation and location-based services in the ever-evolving Internet of Things networks.