For each command on each line in a text file, it outputs the name of the command and the output of the command. It echoes this so you can pipe the output elsewhere.

runOutputCommandsInFile.sh

#!/bin/bash
i=0
# File input
FILE1=$1
# Final output
OUTPUT=""
# Loop over all lines in text
while IFS= read -r line
do
    # Evaluate command
    COMMANDOUTPUT=`eval $line`
    # Check for whether to concatenate with newline at start or not
    if [ $i -eq 0 ]
    then
        OUTPUT="$line\n"$COMMANDOUTPUT
        i=1
    else
        OUTPUT=$OUTPUT"\n$line\n"$COMMANDOUTPUT
    fi
done < "$FILE1"
# Output can be piped. -e parameter makes \n recognized
echo -e $OUTPUT