Nope, with Windows 7 you will not be able to practice using Hyper-V. You can run a Windows server inside a virtual machine, but the VM is already being virtualized, so running another virtualization technology inside the VM is going to be problematic.
You could upgrade your Windows 7 into Windows 8, which does allow you to run Hyper-V. Or you could configure your computer for dual-booting and install Windows Server as one of the boot options. Depending on the characteristics of your computer, you can
even configure it to boot from an external disk in a USB port, and install the additional OS on that external drive.