Absolutely!
DVC doesn't support late check-outs, but there are other services in place to make your last day a full day if you like.
Bell services will hold your bags for you. You can either take them to the bell desk yourself, or call and ask for luggage assistance in your room. Allow a few extra minutes before your DME bus to claim the bags.
If you're flying on a participating airline, you can simply check your bags in with the Resort Airline Checkin (RAC) service before heading to the park. They'll check your bags through to destination and print your boarding passes for you. Not all airlines participate in this service, though. Most of the RAC desks are near the bell services desk, although there are some exceptions. At the Beach Club, it's in the lobby.
When you get back from the park -- or if you've been hanging out at the pool -- and want to shower and change before your flight, there are facilities at most (if not all?) DVC resorts to do this. These are usually near the main pool. If you're staying at SSR, for example, your room key is still good on that last day for entry to the spa, which has a very nice locker room.