Depends on the context, doesn't it? The total spin of a system is conserved (non-relativistically), so if you have 5 up and 3 down, you'll always have 5 up and 3 down.
But for any interacting electrons they can swap spins, so you can never tell which one is or was which.
So they're 'distinguishable' from the thermodynamic sense since the total number of each spin is conserved,
and you have Fermi-Dirac statistics and all that. But they're not distinguishable in the sense that you can tell one from the other.