Is it possible? Yes. Is it simple? It depends!
Most small generators have a self-contained AVR which gives a limited range of adjustment. Outside that range you can manually control the terminal voltage using a variable DC source, and then transfer to the AVR once the generator output is near full voltage. This isn't too hard to arrange and is similar to the schemes used on larger machines where an external DC source is used as a supply for the field, which then transfers to a supply derived from the main output once the output reaches a sufficient level. Blocking diodes and/or contactors prevent the two sources interacting with each other.
If you need high torque then a VFD will provide far better torque from low speed right up to operating speed than a variable voltage scheme can manage, plus it would use COTS equipment rather than custom-engineering your generator controls.