CONFIG_I8253 is not available for thedefaultarchitecture x86.
Result is shown for architecture mips

CONFIG_I8253 (not configurable)

modulename: i8253.ko

configname: CONFIG_I8253

Linux/MIPS Kernel Configuration
└─>Bus options (PCI, PCMCIA, EISA, ISA, TC)
└─>I8253
In linux kernel since version 2.6.17 (release Date: 2006-06-17)  
source code:
arch/mips/kernel/i8253.c

is depended by
CONFIG_SGI_IP28