It's not possible at least from my experience (I've searched a lot for that), and I really find that very frustrating as there are many cases where I need to have some logical name and some display name different than the logical name.
Another related problem is that this limitation forces you to name two or more custom fields with the same name just make them appear with the same label on screens which make their administration a lot harder.
Added Feature Request to Jira:
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Thanks for your response. I am new to JIRA and have used similar tool before which had that feature. You are correct, its is frustrating.
Strange that it allows us to have 2 different fields have same name. Surely, that would be difficult to administer.
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Though, I noticed that if you have different description for same name custom field then it becomes easy to administer.
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