That type of feature often is provided for Tables, such as in Word or PowerPoint, but I don't recall ever having seen anything similar in Excel... and the older the version, the less likely :-) Even the fairly new Table feature of Excel doesn't provide that level of formatting control.
If you ever used a Windows version of the program, what you may be recalling is that when specifying Right Alignment you can include an Indent, just as when using Left Alignment. The capability for a Right Indent doesn't exist in Mac Excel, though.
For cells that contain numerical values you may be able to do something with a Custom Format [similar to Accounting], but I'm not sure how it could apply to cells containing text.