Yes.

At the bottom of the galaxy screen, click  on the left icon.  In the next screen, the right tab is Orders.  Click on it to get a list of orders you can give.  The middle section is about ships, and the third choic is Upgrade.  When you click on Upgrade, you will get a list of ships.  When you click on one of the ships, you will get a list of what the ship can be "upgraded" to.  It is more accurate to use "changed" instead of "upgraded".  Each possible upgrade will show a cost in credits for the upgrade.

WARNING

The cost is for one ship, but the upgrade will actually do all ships of the type you chose in the left column.  You will not receive a warning, nor will you be asked to confirm your choice.  You can very easily go deep into debt if you don't pay attention.

You can also upgrade a different type of ship if you want to while still in this screen.  And you can go even deeper into debt if you don't pay attention.

I haven't found a way do upgrade just one ship in the current version of the alpha.