I am not sure if there is any MATLAB tool/function that does this specifically. But as a workaround, a simple script can create similar results. Try the following:
img1 = imread('AT3_1m4_01.tif');
img2 = imread('AT3_1m4_02.tif');
img3 = imread('AT3_1m4_03.tif');
img4 = imread('AT3_1m4_04.tif');
multi = cat(3,img1,img2,img3,img4);
I = img1;
pad = 0.1;
[ri, ci] = size(I);
for x=1:size(multi,3)-1
[r, c] = size(I);
inew = uint8(zeros(floor([r, c]*pad) + [r, c]) + 255);
inew(1:r, floor(c*pad)+1:end) = I;
inew(end-ri+1:end, 1:ci) = multi(:,:,x);
I = inew;
end
imshow(I);
