Yes. As long as you can upload the QR image file to a website or web server, you should be able to reference it using HTML code. The guy who runs this website explains some of it in this blog post. He also sells pre-made packing slips and builds custom designs.
Since I don't feel like anyone truly answered this properly and I went around to a lot of different threads on this I figured I'd add my part. Thanks to @bearblend for his code!
The real problem was that no matter where I hosted my picture it didn't work until I ran across another thread that said to use imgur. No one confirmed that either though so I just wanted to post that it worked for me! Just make sure there is a .jpeg or .png or whatever file type at the end of your URL.