Yes, absolutely! Click your Organization avatar in the bottom left and select Organization settings, then select Menu/groups on the left.
Here you'll be able to:
reorder all social profiles
add new groups and add social profiles into groups
edit or delete groups
reorder social profiles within the group
rename any social profile as you like
The GIF below shows how to create folders and how to put profiles into them:
You can also rename your social profiles, below is a GIF that shows how to do this:
Don't forget to press Save when you are done to keep all your changes!