Truth be told, I actually experimented with two 4.0 PowerAid spacers in 2004, just for kicks when I was staying in Whittier, Ca. Was able to pull it off -- one space on top of the other -- because the extended bolts you get on one spacer kit will give you just enough purchase with the intake to accomodate a second spacer. However, you only have a few threads holding the whole 2 spacer and TB apparatus in place, so this was a precarious execution, at best.
However, Jeep didn't run any better. Actually seemed to run worse, even after a couple of weeks. Because of this, I went back to one spacer and sent the other back. Never really had an idea why it wouldn't work better than one alone, until now.
Don't want to shine Jeffy's trumpet too much on this one, but it sounds like he has a point.