In this paper, feedback control of quantum spin systems is investigated. The quantum control scenario follows the formalism of continuous quantum measurement and quantum state estimation using the so-called stochastic master equation. In quantum feedback control implementations the state estimation is delayed, which is known to degrade the resulting control performance. As yet there are no theoretical means to take such estimation delays into consideration. In this paper we derive a globally stabilizing control law for two-dimensional quantum spin systems taking estimation delays into explicit account. From a control theoretic viewpoint, the obtained result is a delay-dependent stability criterion for a nonlinear stochastic switching system.