Stacking is something that is done all the time in infrared astronomy. This is done because CCD technology doesn't work for wavelengths in the range of roughly 2 to 10 microns, and beyond, so they use infrared detector arrays like the HAWAII line of infrared arrays by TeleDyne. Typically, though somewhat less so as time goes on, the infrared arrays will have defects like stuck pixels, cross talk noise, etc.
To work around this, the users of such arrays will take an image, move the telescope by a fraction of the field of view, take another image, and repeat as necessary. This allows them to reject bad pixels and smooth out pattern noise. The other advantages of doing this are that it increases the dynamic range of the stacked image, as you asked about, and allows for the removal of transient signals like: asteroids, satellites, and cosmic ray hits. The LSST will use image pairs to aid in cosmic ray rejection.
The downside of this approach is that the process of reading the data out of the detector it adds an amount of noise to the signal (known as "read noise"). Because of this, your sensitivity will go up like the square root of the number of images (roughly, square root of time), instead of linearly with time. Because of this, if you want high dynamic range you're better off not just stacking, but also varying your exposure time - short image(s) for the bright parts of the field, and long images for the faint parts, with the rejection of the saturated pixels done in software. If you're taking this sort of approach with a CCD, you're going to want to rotate the fields between the long exposure because when CCDs saturate they tend to cross bleed along a row.
I don't know how possible this is in a non-professional setting, but an approach some cameras use is something called a "drift scan" (for example, the SDSS imaging detector). See, CCDs read out the charge from the pixels by shifting the whole image across the pixel array, and reading out when the charge reaches an edge of the chip. If you move the charge across the chip at the same rate the image of the sky is moving across the chip, you can continuously scan a strip of the sky.