I honestly believe that you are trying to do something wrong, but...

Here we go:

;WITH cte_ref

AS

(

SELECT R.*, ROW_NUMBER() OVER (PARTITION BY F_data_id ORDER BY F_ref_id) N

FROM [T_Lookup_Ref] R

)

, cte_set

AS

(

SELECT S.N

,M.F_data_id

,M.F_looup_desc

FROM T_Master_lookup M

CROSS JOIN (SELECT DISTINCT N FROM cte_ref) S(N)

)

SELECT R.F_ref_id

,R.F_data_id

,R.F_ref_desc

,M.F_looup_desc

FROM cte_set M

LEFT JOIN cte_ref R

ON R.N = M.N

AND R.F_data_id = M.F_data_id

ORDER BY M.N, M.F_looup_desc, R.[F_ref_id]