This statistic weighs evidence for the two hypotheses by comparing their probability densities at the observed value of $y$. Because the denominator could be zero in this situation, we have to consider two possibilities:
The denominator is positive. This means that $H_0$ assigns a positive chance to any tiny neighborhood of $y$. It occurs when $0 \lt y$. There is no problem with a division by zero. In terms of the indicator function $\mathcal{I}$, a formula for the likelihood ratio is $$\frac{\mathcal{I}_{(0,1)}(y)}{e^{-y}}.$$ This equals $e^y$ for $0 \lt y \lt 1$ and otherwise is zero.
The denominator is zero. This means $H_0$ assigns no probability density to $y$. There are two possibilities:
$H_1$ assigns no probability density to $y$, either. Thus, this $y$ has no chance of being observed under either hypothesis. We needn't consider this any further. The set of $y$ for which this is the case is the intersection of the complements of the supports of the hypotheses: the non-positive real numbers.
$H_1$ assigns some probability density to $y$. Thus, this $y$ is possible under $H_1$ but not under $H_0$. The conclusion is obvious. As a convention we may use values in an extended Real number line $\{-\infty, \infty\}\cup \mathbb{R}$ to designate such likelihood ratios (or their logarithms); here we would say that the likelihood ratio (and its log) is $\infty$.
To summarize, let $S_i\subset\mathbb{R}$ be the supports of the hypotheses. Then the likelihood ratio must be considered a function whose domain is the union of supports $S_0\cup S_1$ which takes values in the extended positive reals $[0,\infty)\cup\{\infty\}$. The log likelihood ratio takes values in the extended reals $\mathbb{R}\cup\{-\infty,\infty\}$, with $\log(0)$ defined to be $-\infty$.
When $S_0=S_1$, the zero-denominator case has no chance of happening, regardless of the hypothesis, and we may dispense with using the extended reals if we wish. This is a frequent assumption in likelihood ratio settings.