No, because that would imply an infinite sequence of smaller and smaller triangles with the same property:
$\hspace{90pt}$
The key to the proof below is this property:
For any point $(x,y) \in \mathbb{Z}^2$ we have that $(-y,x)$ and $(y,-x)$ are its ccw and cw rotations around $(0,0)$ by $\frac{\pi}{2}$.
This implies that we can rotate points of $\mathbb{Z}^2$ around other points of $\mathbb{Z}^2$ by $\frac{\pi}{2}$ and we will still end up in $\mathbb{Z}^2$.
The proof:
Consider an equilateral triangle $\triangle ABC$ with vertices in $\mathbb{Z}^2$ and perform a rotation of $A$ around $C$ to get $A''$ which also has integer coordinates:
$\hspace{70pt}$
Then translate $B$ along $\vec{A''C}$ to get $B'$, again with integer coordinates:
$\hspace{70pt}$
Do this two more times to get also $A'$ and $C'$, all with integer coordinates:
$\hspace{80pt}$
However, observe that $\triangle A'B'C'$ is also an equilateral triangle with vertices in $\mathbb{Z}^2$, but it is strictly smaller than $\triangle ABC$ (for convenience marked with the gray shaded area).
This implies an infinite descending chain of equilateral triangles with coordinates in $\mathbb{Z}^2$ which is clearly impossible.
Edit:
For those of you who would like a construction in which the relative sizes are more apparent, observe that existence of an equilateral triangle with vertices in $\mathbb{Z}^2$ implies existence of a regular hexagon with the same property, and that in turn implies an infinite sequence of smaller and smaller regular hexagons:
$\hspace{30pt}$
I once saw this method applied just for hexagons, but was unable to find the source (if someone knows it, I would be grateful for the reference).
I hope this helps $\ddot\smile$