Of course you can.
The key is choice. If this is something you choose, both initially and as an ongoing way of living, then there's no problem at all.
To be forced to be a sahm is an issue
To be expected to be a sahm is an issue
To be kept short of funds is as issue
To be prevented from accessing the workplace if you want to is an issue.
In a wider sense, the vulnerability of a sahp is an issue, however for the individual family it can be a choice that works and I don't think being a sahm is incompatible with being a feminist.
It is an unfortunate reality that the non earning partner is more vulnerable financially as they exit the labour force of paid work. For that reason, either marriage or an iron clad lockdown of finances is wise for any partner giving up a job to become a sahp. I agree completely with birds saying that this needs to be talked about and understood. I find myself loathe to promote marriage because I think there's a lot you can criticise it from a fem POV- BUT right now marriage is the easiest way for the financially more vulnerable partner to protect themselves, so it's the best option we have (honestly never thought that would be my opinion, hey ho...)
Would I become a sahm? I'm not sure. It's something we have discussed as I think at some point dh is going to be offered a much more senior post which will require a country move. I'm not keen - I have seen a lot of people get divorced recently which no doubt colours my view but in every single divorce the woman has come off worse, financially and emotionally, as every single man has behaved like an utter twat when it came to division of assets and maintenance.
I think it's something that can work and does work, IF you have a solid relationship and you go in with your eyes open. Or your own money.