The Snes9x emulator can run Dungeon Master for Super NES / Super Famicom since version 1.40 (with previous versions, you could watch the introduction and listen to some music but the emulator would hang when you tried to start a new game). It was the first version to emulate the DSP-2 chip (Digital Signal Processor) included in the game cartridge. This DSP chip helps the Super NES / Super Famicom to handle more advanced 3D effects in mode 7 than it can handle normally.
Follow these instructions: