Would it be acceptable to occasionally sleep at the lab?

I'm currently an undergrad, and work as a researcher in an EECS lab. Recently, I discovered a novel application to work on, and so for the last few weeks I've been staying at the lab late almost every day, leaving at midnight or later. Since I live in a dorm on the opposite end of campus, I usually don't get to sleep until around 2-3 AM. In the morning I need to be up and in class by 8-9 AM (depending on the day), in a building that happens to be right next to the lab.

Would it be acceptable to set up a foldable cot at night (leave it under my desk during the day) and sleep at the lab occasionally? I'm usually the last person at the lab at night. If it cultural context matters, I work at a research university in California (US).

EDIT

The lab is mostly composed of graduate students and professors, so they usually maintain a regular 9-5/5:30 schedule at the lab (minus office hours and lectures). As one of a small handful of undergrads, I'm usually there between 4 (when class ends) and well after everyone else leaves. In some cases, graduate students will sleep in the graduate student lounge just outside the lab proper (still part of the lab IIRC).