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It is possible, some high quality skins have 4096 x 4096 textures. But you have to keep in mind that the bigger and more detailed the textures are, the more time and processing power they will require to be rendered. So while they look pretty, they aren't recommended for regular play unless you have 1) few items, or 2) a beefy computer.
Other than that you should look into good creators who spend time on their stuff and don't photoskin (directly copy/pasting photographs on top of the meshes).
Here's a master post I made with creators I recommend, maybe you can find something useful/nice in there?
Tumblr - more downloads! ◾
CC reuploads / creator backups ◾
TS3 CAS Conversion Catalog - for basegame, EP, SP, and Store clothing!