There is not an option for it at the moment, but if you're feeling adventurous you can edit the file at nibRealUI\HuD\UnitFrames\Units\Player.lua
Find this section, and add two dashes (--) in front of "CreateTotems(self)":
Lua Code:
UnitFrames["player"] = function(self)
self:SetSize(info[UnitFrames.layoutSize].x, info[UnitFrames.layoutSize].y)
CreateHealthBar(self)
CreatePredictBar(self)
CreatePvPStatus(self)
CreatePowerBar(self)
CreatePowerStatus(self)
CreateStats(self)
CreateEndBox(self)
--CreateTotems(self)
NOTE: This will remove the totem display for all toons, including shaman if you have any.