A qualified YES. Using 4 outputs from your Arduino you can control 1 stepper motor. You would need to use Unipolar motors and it would require 4 transistors/MOSFETS and 4 Arduino outputs for each motor. The advantage of using a driver is that a typical drive has Step/Direction inputs and thus requires only 2 outputs from your Arduino.
I have started some work on an AVR based driver for unipolar steppers (would also work with some H-Bridge circuits for bipolar steppers) tha uses an ATtiny2313 as the brain. Requires an ATtiny2313, a couple of capacitors, a couple of pullup esistors for the Step & Direction inputs and 4 transistors/MOSFETs. Here is teh link to the thread here on this forum - http://arduino.cc/forum/index.php/topic,84809.0.html
. Might give you some ideas and some portions of the code are usable in an Arduino.