Are there any tools similar to the ones available for Gmail? Like GDrive aka GmailFS?

Nothing reliable or good...The only tools are stuff that retrieve data from hotmail and make it easily accessible and stuff.

There's Hotmail Popper, but seeing as Hotmail has discontinued their service to view emails in Outlook and Outlook Express, such programs won't work anymore either.

Right now only people who used to view their emails like that can still use it for a few months and paying subscribers can keep using this service. If you're not one of those, Hotmail Popper won't work, and other programs that might exist probably won't work either.