I need to access my sound settings frequently and thus would like to add a direct shortcut icon to the sound settings to the Unity launcher.
Is there any way to achieve this?
Sound settings icon:
The icon you show in your question usually is not presenting itself too obviously; the sound settings usually appear in System Settings > Sound.
You can however navigate to
/usr/share/applications and drag the file
unity-sound-panel.desktop on to the launcher, or, open Dash and type "Sound" (or a localized name) to the launcher.