From Material Design 1.6.0 and above ('com.google.android.material:material:1.6.0'):
There is an official attribute app:labelBehavior="visible" as suggested by @S.Gissel on his answer like the below:
<com.google.android.material.slider.Slider
    app:labelBehavior="visible"/>
<com.google.android.material.slider.RangeSlider
    app:labelBehavior="visible"/>
From  Material Design 1.5.0 and below:
There was no public API to keep the Tooltip always visible using the app:labelBehavior attribute. Below is a workaround using a Reflection:
Create a Subclass of a Slider/RangeSlider and override the onDraw(@NonNull Canvas canvas) method and call the setSliderTooltipAlwaysVisible(Slider slider) method to keep the Tooltip always visible like below:
For Slider:
 public class MyCustomSlider extends Slider {
 public MyCustomSlider(@NonNull Context context) {
     super(context);
     init();
 }
 public MyCustomSlider(@NonNull Context context, @Nullable AttributeSet attrs) {
     super(context, attrs);
     init();
 }
 public MyCustomSlider(@NonNull Context context, @Nullable AttributeSet attrs, int defStyleAttr) {
     super(context, attrs, defStyleAttr);
     init();
 }
 private void init(){
     //in case this View is inside a ScrollView you can listen to OnScrollChangedListener to redraw the View
     getViewTreeObserver().addOnScrollChangedListener(new ViewTreeObserver.OnScrollChangedListener() {
         @Override
         public void onScrollChanged() {
             invalidate();
         }
     });
 }
 @Override
 protected void onDraw(@NonNull Canvas canvas) {
     super.onDraw(canvas);
     setSliderTooltipAlwaysVisible(this);
 }
 public static void setSliderTooltipAlwaysVisible(Slider slider){
     try
     {
         Class<?> baseSliderCls = Slider.class.getSuperclass();
         if (baseSliderCls != null) {
             Method ensureLabelsAddedMethod = baseSliderCls.getDeclaredMethod("ensureLabelsAdded");
             ensureLabelsAddedMethod.setAccessible(true);
             ensureLabelsAddedMethod.invoke(slider);
         }
     }
     catch (IllegalAccessException | NoSuchMethodException | InvocationTargetException e) {
         e.printStackTrace();
     }
 }
}
For RangeSlider:
 public class MyCustomRangeSlider extends RangeSlider {
 public MyCustomRangeSlider(@NonNull Context context) {
     super(context);
     init();
 }
 public MyCustomRangeSlider(@NonNull Context context, @Nullable AttributeSet attrs) {
     super(context, attrs);
     init();
 }
 public MyCustomRangeSlider(@NonNull Context context, @Nullable AttributeSet attrs, int defStyleAttr) {
     super(context, attrs, defStyleAttr);
     init();
 }
 private void init(){
     //in case this View is inside a ScrollView you can listen to OnScrollChangedListener to redraw the View
     getViewTreeObserver().addOnScrollChangedListener(new ViewTreeObserver.OnScrollChangedListener() {
         @Override
         public void onScrollChanged() {
             invalidate();
         }
     });
 }
 @Override
 protected void onDraw(@NonNull Canvas canvas) {
     super.onDraw(canvas);
     setSliderTooltipAlwaysVisible(this);
 }
 public static void setSliderTooltipAlwaysVisible(RangeSlider slider){
     try
     {
         Class<?> baseSliderCls = RangeSlider.class.getSuperclass();
         if (baseSliderCls != null) {
             Method ensureLabelsAddedMethod = baseSliderCls.getDeclaredMethod("ensureLabelsAdded");
             ensureLabelsAddedMethod.setAccessible(true);
             ensureLabelsAddedMethod.invoke(slider);
         }
     }
     catch (IllegalAccessException | NoSuchMethodException | InvocationTargetException e) {
         e.printStackTrace();
     }
 }
}
The key point here is to call the private method private void ensureLabelsAdded() of BaseSlider class using a Reflection after the super.onDraw(canvas) gets called.
 
Use the above custom Sliders in your xml like below:
<?xml version="1.0" encoding="utf-8"?>
<androidx.constraintlayout.widget.ConstraintLayout xmlns:android="http://schemas.android.com/apk/res/android"
android:layout_width="match_parent"
android:layout_height="match_parent"
xmlns:app="http://schemas.android.com/apk/res-auto">
<my.package.name.MyCustomSlider
    style="@style/Widget.App.Slider"
    app:labelBehavior="floating"
    android:id="@+id/slider_sound_sensitivity"
    android:layout_width="0dp"
    android:layout_height="wrap_content"
    android:valueFrom="0.0"
    android:valueTo="100.0"
    android:layout_marginTop="@dimen/_8sdp"
    app:layout_constraintTop_toTopOf="parent"
    app:layout_constraintStart_toStartOf="parent"
    app:layout_constraintEnd_toEndOf="parent"/>
<my.package.name.MyCustomRangeSlider
    style="@style/Widget.App.Slider"
    app:labelBehavior="floating"
    android:id="@+id/range_humidity_in_percentage"
    android:layout_width="0dp"
    android:layout_height="wrap_content"
    android:valueFrom="0.0"
    android:valueTo="100.0"
    android:layout_marginTop="@dimen/_16sdp"
    app:layout_constraintTop_toBottomOf="@+id/slider_sound_sensitivity"
    app:layout_constraintStart_toStartOf="parent"
    app:layout_constraintEnd_toEndOf="parent"
    app:values="@array/initial_slider_values" />
</androidx.constraintlayout.widget.ConstraintLayout>
 
Note: In case you still need to use this workaround in Material Design 1.6.0 you have to change from the above xml the attribute app:labelBehavior="floating" to app:labelBehavior="visible" in both
MyCustomSlider/MyCustomRangeSlider.
And style="@style/Widget.App.Slider" is your custom style defined in styles.xml file like below:
   <style name="Widget.App.Slider" parent="Widget.MaterialComponents.Slider">
        <item name="materialThemeOverlay">@style/ThemeOverlay.App.Slider</item>
        <item name="labelStyle">@style/Widget.App.Tooltip</item>
    </style>
    <style name="ThemeOverlay.App.Slider" parent="">
        <item name="colorPrimary">@android:color/holo_red_light</item>
        <item name="colorOnSurface">@android:color/holo_red_light</item>
    </style>
    <style name="Widget.App.Tooltip" parent="Widget.MaterialComponents.Tooltip">
        <item name="android:textAppearance">@style/TextAppearance.App.Tooltip</item>
        <!--This is the Tooltip Background Color. In case you don't want a background change it to @android:color/transparent -->
        <item name="backgroundTint">@android:color/holo_orange_light</item>
    </style>
    <style name="TextAppearance.App.Tooltip" parent="TextAppearance.MaterialComponents.Tooltip">
        <item name="android:textColor">@android:color/holo_blue_light</item>
    </style>
From the above xml you can change the Tooltip Background to Transparent color by changing the backgroundTint color:  <item name="backgroundTint">@android:color/transparent</item>.
Results with a Tooltip always visible with a Transparent background:

Results with a Tooltip always visible with a Non-Transparent background:
