Can I create a vertical layout with field labels on left side instead of a horizontal table?

yes just set the input to the data entry in properties to the left.  

the labe position is defaulted on top but you can change the properties in the field. 

@Scruton in addition to label positions, were you also asking about the layout of the fields themselves? If so, you can use the "Space" layout element to "force" vertical forms. Maybe a clunkier solution that you were hoping for but it gets the job done!

NOTE: While you're in the admin view, the "Space" elements will be gray, but they turn white once you click out of admin.