What does make different instruments sound differently? How do you distinguish, say, a trumpet (sound) from a violin (sound)?
There are two (three) things the ear relies on: volume, but it would be easy to play a recording with more or less volume, so this is a neglectable difference.
The two important differences are:
the intrinsic curve, also called ADSR (attack, decay, sustain, release) is the way the single tone develops over time. A tone starts to sound (attack), stabilizes (decay), sounds out for some time (sustain) and then fades out (release)
the overtone composition is the way each instrument emphasizes (or deemphasizes) certain partial harmonics in a characteristic way. Every real tone a real instrument produces is not only the base frequency but also many partial harmonics of that base tone. Some of these partial harmonics are louder (emphasized) than others and which one these are depends on the sort of instrument which produces the tone. If we talk about a "warm tone" or a "metallic tone", etc., this sum of partial harmonics is meant.
So, - in principle - the answer is: "yes", because - "in principle", as you said in the title, with enough sound engineering (some Fourier analysis and sound synthesis, as @NuclearHoagie said), you can indeed produce whatever sound you want from whatever sine wave you start with. Basically every classical synthesizer does exactly this - to some extent.
If this in principle possible method is - in practice - practical is another question. You can approach the sound of an instrument, but the more musical training one has the better will he be able to differentiate between "almost this instrument" and "exactly the instrument". Notice that the amount of calculation necessary to get it exactly right is exponentially higher than to get it almost right.
This is why modern synthesizers, instead of making sounds from pure sine waves, use samples as base of their sound production. Samples are recorded sounds of real instruments which are then processed.