What virtualization are you looking at using? What OS are you looking to be installed on the VMs? How much do you care about performance? In theory yes you could do it, but you will most likely be pretty close to your 16GB of RAM on your laptop which will hurt performance. Also if you are hoping to have them all doing computational tasks at the same time the host machine and all the VMs will be fighting for very limited CPU resources, only 2 cores 4 threads.