Yep.
The formula is simple, understand frequencies and you'll understand what clashes and what sits in nicely, understand ADSR (attack, decay, sustain, release) and you'll understand what part of the sound needs to be adapted to compliment the additional leyer/s. But the most potent of all tools is your ears. Layer sounds and listen to how they come across, if something is too heavy on the attack, then adjust the attack, if there is not enough tail to the sounds, adjust the release and so on.Once you get the hang of things then you will instinctively know which sound will clash with another or which sound will compliment another.
If you're in the mood, read my tutorials on my site about synthesis. They will explain frequencies and ADSR much more in detail. Next week the tutorial is about filters. Another potent weapon to use in the sculpting of sounds.