You can use Labeling Program for Ubuntu.
but if you want something with Terminal, try this
for FAT 12 and 32 Systems, these file systems are most often found on USB thumb drives, flash cards (like for a camera or cell phone), and older external USB hard drives. but may be if your hard disc is FAT 12 or 32 . Thus, check current name in terminal
sudo mlabel -i <device> -s
for example :
sudo mlabel -i /dev/sdb1 ::my_external
if not you edit mtools.conf as sudo
sudo nano /etc/mtools.conf
add something like for each drive:
drive p: file="/dev/sdb1"
drive q: file="/dev/sdb2"
sudo mlabel p:new_label . for example ,
sudo mlabel p:30GB_FAT32
If your HD is in NTFS ,
first, check the current label
sudo ntfslabel <device>
and rename like that
sudo ntfslabel <device> <label> Note: 128 characters maximum.
most of linux formatted HD are with ext3, ext4 . thus,
check the lable first
sudo e2label <device> and rename
sudo e2label <device> <label>. Note: 16 characters maximum.
for more, you should take a look at here.