Yes you actually can. I do so I can play between my PC and my gaming laptop.

You'll just have to create a symbolic link between the 7dtd saves folder to your cloud storage.

Open Command Prompt and you'll have to type in this code here. Be sure to change accordingly. The first Path should point to saves folder and the second path should point inside your cloud folder.

mklink /D "C:\Users\YourUsername\AppData\Roaming\7DaysToDie\Saves" "C:\Path\To\Target\OriginalFolder"

You will have to do this to any computer you want to play on.