Is it permissible for men to perform prayer wearing a rolled-up or short-sleeved shirt?

The person performing prayer is, in a spiritual sense, standing in the presence of Almighty Allah (c.c.). Therefore, one's attire should be proper. In the past, rolling up the sleeves was considered a sign of arrogance, so praying with rolled-up sleeves was regarded as makruh (disliked). (el-Fetâva’l-Hindiyye, 1/106) However, today such a perception no longer exists. On the other hand, there is no objection for men to pray in short-sleeved shirts either, as this, like rolling up the sleeves, is no longer seen as inappropriate.

Source: T.C. Diyanet İşleri Başkanlığı, Din İşleri Yüksek Kurulu