Yep. I have no trouble sneaking in Heavy Armor - it just costs more perk points than sneaking in Light Armor. Fill out your Heavy Armor tree on the left side until 'Conditioning' and you get weightless armor, ie. no penalty applied for weight/movement.
Self Enchanted Muffle on your boots is 100% muffle, instead of the 50% that looted Muffle gear is. The Steed Stone is also a good choice, but I use the Lord Stone for the Magic Resist. I also have the Quiet casting perk, and cast Invisibility. There's a sound aspect and a sight aspect to sneaking, and you need to eliminate both.