I will give a Lutheran response to the question. It is based upon a response to how some Reformed cessationists hold to what is called a "cascade" theology of spiritual gifts and offices. They argue that if the apostolic office is no longer around than the other gifts and offices should not be either.
The answer to the question depends on what is meant by "apostle" in our current setting. Lutherans would view the canonical apostles (i.e. those who were with Jesus) as a unique group that oversaw & authorized the final formation of the New Testament canon. The gift of primary inspiration (John 14:26), that they received, enabled the church to have a doctrinal foundation. Once the last canonical apostle died, the canon was complete. Lutherans would reject the concept of modern apostles claiming to speak authoritatively apart from the Word of God.
However, Lutherans would also allow for another apostolic category. They would view the gift of apostleship in a broad symbolic missional sense (apostolos from apo = from + stello = send forth).
For example, in the Lutheran Confessions, the natural reading of "A Treatise on the Power and Primacy of the Pope" (Treatise 26) is that the word "apostle" is used in a broad sense in reference to missional leaders. These missional leaders can be either ordained clergy or lay leaders that are involved in, historically, what has been called the apostolate.
Philip Melanchthon, the author of Treatise 26, preached a memorial sermon to the students at the University of Wittenburg on the death of Luther (1546). He describes this in terms of current church ministry modalities:
The Son of God, as Paul says, sits on the right hand of the Eternal
Father, and gives gifts unto men; these gifts are the voice of the
Gospel and of the Holy Spirit, with which, as He imparts them, He
inspires Prophets, Apostles, Pastors and Teachers, and selects them
from this our assembly, that is to say, from those who are yet in the
rudiments of divine knowledge, who read, who hear, and who love the
prophetic and apostolic writings; nor does he often call to this
warfare those who are in the exercise of established power, but it
even pleases him to wage war on these very men through leaders chosen
from other ranks.
In a similar way, Martin Luther in 1533 writes about the ministry:
For none of us is born as apostle, preacher, teacher, pastor through
baptism, but we are all born simply as priests and clerics.
Afterward, some are taken from the ranks of such born clerics and
called or elected to these which they are to discharge on behalf of
all of us. (Luther, The Private Mass and the Consecration of Priests,
The above comment from Melanchthon is important. That's because many scholars believe that Lutheran Confessional church polity was intentionally set up, among other things, to facilitate an easy "docking" with the Bishop and Church of Rome at some point in the future. It is not insignificant that the Roman tradition still asserts:
The mission of the Church pertains to the salvation of men, which is
to be achieved by belief in Christ and by His grace. The apostolate of
the Church and of all its members is primarily designed to manifest
Christ's message by words and deeds and to communicate His grace to
the world. (Documents of Vatican II, Decree on the Apostolate of the
Laity ch. 2, No. 6)
One popular Lutheran theologian of the 19th century explains the gift of apostleship this way:
The ordinary ministry (Predigtamt, preaching office) is the
continuation, willed by God Himself, of the extraordinary apostolic
office, and is in and with the apostolic office of divine institution.
(A. Hoenecke, Evangelisch-Lutherische Dogmatik, IV:180); pp.
In other words, the reference to “apostles” in 1 Corinthians 12:28 is connected to an "appointment” (εθετο) for a "mediated" ministry that parallels what is frequently mentioned as a missional position (e.g. the Sendlinge in the European Lutheran missional tradition). This can also be seen in modern missional categories such as St. Patrick, who is often described as an apostle to Ireland. Another example, might be C.S. Lewis - who is frequently described as an apostle to the skeptics.
The late Greek Orthodox theologian, Archimandrite Eusebius Stephanou, shared this ecumenical thought on the subject:
...we have forgotten the charismatic life of the Church with all the
diversity of its gifts. Apart from being ordained to the priesthood, a
person can be called to the work of an evangelist and teacher. We can
be called to be apostles for missionary work either nearby or in
distant places... - Archimandrite Eusebius Stephanou (Rediscovering
the Lay Ministry in the Orthodox Church)