Formica is laminate
(its a brand ... like WilsonArt
.... btw if you make one mistake once the laminate is rolled on ... you get to start all over again ... and if your far enough along (beyond the point of no return) ... you get to scrap your whole cabinet and watch it go up in flames ... lol ... the contact cement really accelerates the fire nicely ... hehe)
prepare to fork out $200 - $350 for 4 sheets of 4'x8' Formica
Laminate is removable, though you'll likely destroy the laminate in the process. All you need is to get it hot, which loosens the glue and you can peel it back off. Either a heatgun or plumber's torch will do for a heat source.
Measure your cab before ordering the laminate, it's available in sizes other than 4' by 8'. My last cab took a 3' by 8' sheet and a 3' by 10' sheet to cover both sides and the coin door panel. Had I ordered three 4' by 8' sheets, I'd have two 16" by 8' strips and a 4' by 4' piece left over. That's fine if you need them for other things, but there's no need to pay for the extra material if you don't need it for the cab.
Lastly, shop around for the laminate. I payed 90 cents a square foot at Lowes, I've since found it for less than a third of that.