Yes, if it is practical to do so. A good panel will have a leader who should introduce the panel members who will either stand up to shake hands or will look at you with disdain because they have more important shit to do and they got sucked into an interview process because they were "available". 
 
That said, make sure you have a notepad of some kind and take notes, unless they prohibit that kind of thing, then don't. Good luck.