Can I change the domain associated to the license?

Yes. Our system checks against the number of active installs, rather than the specific domain names. You can deactivate the plugin on one domain and then activate it on another domain with no issues. You can do so from within the Plugin Settings page in the WordPress Admin dashboard -> License & Account tab, and then reuse the license in other site.

If you are looking for using the license in a /localhost/staging/dev environment you can do it without counting towards your site activations limit. However, your domain name must reflect one of the allowed TLDs or Subdomains. Check the following articles to know the allowed domains.