Can the shipping and billing addresses be displayed on the invoice?

Yes, this is possible.

Just go to Settings >> Customer-facing essentials >> Invoices & Credit Notes >> Select Information to Display and check "Shipping Address" & "Billing Address & VAT Number (if applicable)". Once this is done, all the future invoices will display the shipping & billing addresses on file for the customer.

Note: If the customer or subscription doesn't have a billing or shipping address it will not be displayed on the invoice.

Here's a screenshot.