annotatedArrow[p_, q_, label_] := {
     Arrowheads[{{-0.05, 0},
                 {$MachineEpsilon, 0.5,
                  Graphics[Inset[Framed[Style[label, Medium],
                                        Background -> LightGray,
                                        FrameStyle -> Directive[Thickness[0], Opacity[0]]]]]},
                 { 0.05, 1}}],
      Arrow[{p, q}]
   }

Manipulate[
  Graphics[{annotatedArrow[{0, height}, {right, height}, "wannadance?"]},
           PlotRange -> {{0, 0.2}, {0, 0.25}}, ImageSize -> 200] // Framed,
  {{height, 0.2  }, 0, 0.24, LabeledSlider}, {{right , 0.136}, 0, 0.2 , LabeledSlider}
]

Graphics[{
  Line[{{-1, 0}, {1, 0}}],
  Text[
   Framed[Style["wanndance?", Medium], Background -> LightGray,
     FrameStyle -> Directive[Thickness[0], Opacity[0]]],
   {0, 0},
   {0, 0},
   Through[{Cos, Sin}[ArcTan[$MachineEpsilon, Cos[Pi/2.]]]]  (* direction vector *)
  }],
 ImageSize -> Tiny]

annotatedArrow[p_, q_, label_] :=
  {Arrowheads[
     {{-0.05, 0},
      {Automatic, 0.5,
         Graphics[
           Inset[Framed[Style[label, Medium],
           Background -> LightGray,
           FrameStyle -> Directive[Thickness[0], Opacity[0]]]]]},
      {0.05, 1}}],
   Arrow[{p, q}]}