You can't associate MAC addresses with hostnames, however.
You can create static DHCP leases, thereby assigning a reserved IP address to DHCP requests originating from a specific MAC address. With this, you can additionally also create local DNS entries (overrides) for your domain (.lan, by default) to point towards your local (or even remote) IPs. The combination of these two should provide you with the desired functionality.
Using luci, both are easily available (in a combined form) via "Network" --> "DHCP and DNS" (/cgi-bin/luci/admin/network/dhcp) under "static leases" (it also allows setting up IPv6 suffixes and MAC specific lease times).