Yes, you can set up almost any view/sorting you like in Media Center.
Right click on the AUDIO node in the Tree and choose "Add Library View"
In the Dialog window that opens chose the view you like (I'd recommend "Panes: Genre, Artist, Album" for what you want)
That should pretty much do it. If you like you can further customize the Categories, change the View name, or set rules as to which files should be included in this view.