Sure it can.
You’ll need a home/small office router from Frys, Best Buy, etc. You’ll probably need a network switch, as most small routers only have 4 network ports on them. Connect the cable/DSL modem to the uplink of the router. Connect one port of the network switch to one of the LAN ports on the router.
Connect the desktops to the switch or on of the 3 other LAN ports in the router. If the printers have Ethernet ports you can connect them directly to the switch or LAN ports on the router. If they don’t you can either connect them to the computers are use the computers to share the printers, or you can get USB print servers which allow you to connect the printers to the network directly, then access the printers over the network.
You’ll want to make sure that the print servers support Mac, and aren’t Windows only.