this is possible - go to Preferences > Settings, and edit the User Settings file to comment out excluded files in the "files.exclude" section - like node_modules etc. Here are my settings for example:
"files.exclude": {"**/.git": true, // this is a default value"**/.DS_Store": true, // this is a default value // "**/node_modules": true,"**/jspm_packages": true,"**/coverage": true,"**/public": true,"**/.cache": true,"**/.bundles": true,"**/es": true, // "**/dist": true, // "**/lib": true,"**/umd": true},