Everything is feasable. I went on a daytrip to Paris two weeks ago (by car) and had a great day.
I took a quick glance at the trains and it should be possible to arrive around 9-10am in Bruges and leave at 19-20pm, which gives you at least 8 hours of visiting time. The historic centre of Bruges is roughly the same area as Le Marais, so 8 hours would certainly give you time to wander through the streets and enjoy the city.
If you can spare the time, I would certainly recommend you to stay at least one night, because for me, the best moments are both evenings and mornings for then there's no crowds and the atmosphere in the city becomes even nicer. And it gives you the possibility to try one of the many great restaurants. But if time is an issue, a daytrip shouldn't dissapoint.
Thank you so much for your helpful insights! :)