Yes, and maybe.

First of all, standard threadless stems are (usually) adjustable via moving spacers or removing and inverting the stem. They're also available in a variety of rise angles. So all things considered, there is probably more height adjustment in a threadless system than the 2-3" that was available in a typical quill stem, although it' not as convenient. I don't rank the convenience factor high because in 50 years of riding quill stem road bikes, I've very rarely moved a stem at all once I set the bike up, If I did move it was once and done.

But they do make hinged adjustable threadless stems which allow you to change the height by quite a bit, though it changes in an arc, and can bring the bar closer than you might want. Search under "adjustable stem.