Another fairly inexpensive alternative, if the sizes are right, are the "in stock"
laminate countertops at Home Depot and Lowes. There are 6, 8 and 10 foot
lengths, from about 60 to 130 dollars depending on size.
You have to install them or get them installed, but most kitchens would be
under $800 or so, and they don't look bad at all.
Or, if you are or have a capable DIY person around, you could re-laminate them
yourselves. Both stores sell sheets of laminate and shears for cutting. Cut to
size, coat with contact cement, put in place and voila! I did our kitchen a while
back, which had old formica counters. Came out quite nice, and had no problems
with cracking, chipping or coming unglued.