Not directly. You can transfer information form one using Quick Transfer or restoring from a Backup, but the second iPhone's data will need to be manually moved over and not everything may be able to be moved.
There is no way directly merge 2 Apple IDs into a single device.
Choose one of the phones to transfer data and follow the steps here: Use Quick Start to transfer data to a new iPhone, iPad, or iPod touch - Apple Support
Then manually send the data form the other iPhone to the new one by using Airdrop, contact by contact and note by note etc..., or writing. down the information by hand on the new iPhone.