I don't know of a way to do it in Windows to get Matlab to actually run in the DOS window which is what you would need for the display to be written in it. (FYI: You can in LINUX - but I assume you need to run in Windows).
For running in Matlab you have 2 alternatives that I can think of:
-logfile FILE on launch which will record all output to a FILE you specify - however how and when the file is written to disk is controlled by Matlab and I haven't tested to see - if your code doesn't do much it might only be written on Matlab exit.
diary FILE in your Matlab command, i.e. -r "diary FILE.TXT; test.m; diary OFF" - this is similar to above - but uses the diary function.
However you can get what you want if you can run your code compiled (I know thats a big if as you may not have the compiler - or if you regularly want to update test.m this is not the most efficient...
When you run a compiled code from a DOS prompt all the terminal messages are written to the DOS prompt. One thing I'd advise if this is suitable is to delete the "splash.png" file from your installation directory to avoid the splash screen displaying when you run from the DOS as its (probably) not needed.
systemcommand to invokeechobut yea that would require you to modify your m files.systemwill also go to the command window, instead of windows command prompt.