Sadly, I've never seen a C++ compiler use this (old) technique for lambda reference captures. The main compilers all seem to just use individual references for each capture instead of a single reference to the stack frame, which makes the lambdas with a lot of reference captures more expensive.
Things get complicated when a lambda that capture by reference is capturing things that are not on a single stack frame (or a stack frame at all). Then you have references to references. You could rely on the optimizer, but the capture has ABI implications.