OpenGL is doable, but it would be a lot of work, and for a static image I doubt it is worth the time investment to figure out how to make the fonts work, to deal with the infamous black screen of death, and so on.

If you feel up to it, PDL has a Graphing package that does a very good job of rendering plots in OpenGL. I am not sure exactly how well it can put labels in certain points in space, however, but it makes some killer rotating plots. See the Screenshots section of the PDL page. You could do something with PDL and take screen captures -- however you are going to have to think of your graph in terms of line equations and points, so this may be less than ideal.

Failing that, your graph is isomorphic, and all the lines are at right or 45 degree angles, so using GD and the aforementioned modules isn't really that rough. The line calculations are essentially trivial if you must do your own isomorphic (cabinet view) rendering.