Yes, you can.
You can do it either from the Management Portal, or by calling the Update Role action on the REST API. You can further automate this process using REST API Calls.
UPDATE
When I reference REST API Calls, I really mean REST API Calls. It is just an HTTP(S) Call, which can be execute from a platform/language of your choice, which do have support for making HTTPS calls. Windows Azure PowerShell management cmdlets is just a bit that has these calls. Fluent Management open source project is another implementation in C# and the Fluent API.