Hi Becky,
Welcome to the world of teenage hormones! As a Parent Coach and mother O. teenagers, I can relate.
The best piece of advice I have is to make sure your kids own the problem and suffer from it more than you and your husband do. As much as possible, what happens needs to be a natural consequence of their arguing. Examples might be no time together as siblings or as a family for several days or more. (If you aren't having fun as a family, now is a good time to start because of its many benefits.) The priveledge of family fun time is earned based on behavior.
I'd suggest you and hubby brainstorm ideas to try, considering those in some of the other replies, and then call a family meeting. In the meeting, your kiddos will either participate in deciding how to address this or you and hubby will simply have to tell them what life will be like moving forward.
Remember, too, that kids need a way to work through their excess energy and emotions. Encourage regular exercise and teach them to talk through their issues. Stress relief and conflict resolution are skills all teens and adults need
Whatever you choose to do, remember to be consistant. This way they know you expect things to improve starting now.
Good Luck,
Parent Coach J. B