Officers were called following safety concerns for a man and a woman inside the vehicle at 9.20pm on Saturday.
They were both rushed to hospital but were pronounced dead shortly after arrival.
A statement from Elaine and Philip’s family said: “We are devastated and heartbroken by the sudden loss of Elaine and Philip Marco.
“They were much loved parents to four children and 10 grandchildren. The family are arriving overseas from America and Australia to mourn their loss.
“They were due to celebrate their 54th wedding anniversary next week and our only comfort is knowing that they were together to the very end.”
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Two die in flooded area
Synagogue Chabad-Lubavitch Liverpool confirmed Mr and Mrs Marco as the victims in a social media post.
Alongside a picture of the couple, a Facebook post read: “A terrible tragedy with the passing of our dear friends Philip & Elaine Marco.
“May God heal the broken hearts of their children and grandchildren.
“A huge loss to our community.”
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Liverpool City Council said the road is expected to “remain closed for some time”.
“This was a tragic incident and our thoughts are with those involved and their families,” a spokesperson said.
“Council officers from highways and City Watch supported the emergency services in responding. The road is expected to remain closed for some time while an investigation takes place, and motorists are asked to continue to avoid the area.”
Merseyside Police has been asked by the coroner to further investigate the incident.
Detective Chief Inspector Mike Dalton said: “Our thoughts go out to the family of the man and woman who sadly lost their lives in this tragic incident, despite the best efforts of passing members of the public, our officers and Merseyside Fire and Rescue Services at the scene.
“We are at the early stages of an ongoing investigation on Queens Drive to establish the circumstances of this tragic incident.
“We are continuing to appeal to anyone who was on Queens Drive, between North Mossley Hill Road and Dovedale Road at around 9.20pm last night and saw the accident, or who stopped to try help or anyone who had any dashcam footage from their car to come forward as soon as possible.
“Similarly, if you live in the area and have any doorbell or CCTV footage from last night please share this with us.”