Yes, it is possible to delete Stories from the archive. Once your pictures or videos disappear from the Stories after 24 hours, they are stored in the archive and are not visible to anyone. In any case, if you wish to permanently delete the Stories, please follow the below-mentioned steps:
Step 1: Go to your profile and then to Archive.
Step 2: All of your Stories will be displayed here. Select the Story that you want to remove.
Step 3: Tap the three dots (more option) in the bottom right corner.
Step 4: Tap Delete.
Step 5: Tap Delete again to confirm.