Yes, this can easily be done. I have 10 hp flywheels on the 6/1 at my shop and the heavier flywheels definitely help keep the engine running steadier. I am also building a new version of the serpentine pulleys for the ST generators, what I call the SuperMax line. These also help with the flickering and contribute to steadier running.
All of the GM-90 engines from 6-12 hp have the same stroke, just the liners and pistons are bigger. When the time comes for my first decarb I'll check on the interchangeability of the 6/1 liners and cylinder block with the larger bore liners and pistons.
Mike