No there's no such setting. But you can navigate comfortably using a keyboard in the file panel, instead of the tree.
There is a behaviour of the directory tree that is annoying when using the keyboard. Every time a folder gains focus, it is opened.
When I navigate a directory tree there are usually a lot of folders to skip before I get to the one I want. In Windows Explorer I would press arrow-down to get to the folder I want and then arrow-right to enter it. But with WinSCP every arrow-down opens the folder and I have to press left to close it.
Isn't there any setting that will make the directory tree behave like in windows?