If you boot laptop 1's drive in laptop 2, then yes, doing a powercfg -h will disable the hibernation feature when the drive is place back into laptop 1, since it's a registry setting in Windows and not stored on the drive or BIOS or anything like that.
However, if you did that -- even if laptop 2 is an identical model -- it would cause the whole operating system to reconfigure itself. Twice. Windows doesn't like being moved to different hardware. Worst case scenario is that it could corrupt your whole Windows install.
The preferred way to fix this scenario (i.e. if laptop 1 won't resume properly), would be to plug it into another computer as a secondary drive (e.g. putting it into a USB enclosure or whatever) and delete the HIBERFIL.SYS file in the root directory. Returning it to laptop 1 would make it boot fresh at that point and then you could issue your powercfg -h off to disable the hibernation feature.