LISA will detect gravitational wave (GW) in the milli-Hz frequency band in space. Time-delay interferometry (TDI) is developed to suppress laser frequency noise beneath the acceleration noise and optical metrology noise. To identify stochastic GW signals, it would be required to characterize these noise components entangled in TDI data streams. In this work, we demonstrate noises characterization by combining the first-generation TDI channels from Michelson and Relay configurations. By assuming stationary Gaussian noise in three-year observation, the combination of Michelson and Relay could effectively break the degeneracy between the different optical path noises on three spacecraft. Based on the characterized noises, we further reconstruct the power spectrum density of noise in the selected TDI channel. Two cases are performed to characterize the spectrum shape of a stochastic GW signal. For a modeled signal, its parameter(s) could be directly estimated from the TDI data, and its spectrum could be recovered from the inferred values. And for an unexpected signal, its spectrum may be recognized and retrieved from noise-subtracted residual in which its power spectrum density surpasses the noise level.