Cutting to size is easy. You will NOT be able to round over laminate. Laminate is a thermo plastic. Meaning, it has to be heated to be bent, and once bent it will want to stay in that shape. You can Clip the corner, and apply a cap to it, or you can ease the edge and apply a cap.
To cut it you can use a hand saw, skill saw, jig saw etc. make sure you cut into the laminate. This means the blade will cut on the down stroke. Most skill saws cut on the upstroke, so you would need to cut from the back side. Same with Jig saws, tho you can purchase down cutting jig saw blades. I would put a piece of masking tape over the area to be cut, and just use a handsaw, following your line. Sand the end with a belt sander and if needed apply an end cap using contact adhesive.

Good Luck !

I've always had good luck with a good sharp circular saw, only flip it over and cut on the back or bottom of the countertop.If you are unsure of the saw alone you can also cut the top a little long(1/8 in.)with the circular saw and use a router with a straight cutting bit to finish the cut,but you'll have to clamp a straight edge to the top for a fence.You can't round over the edge the cap on the end is best and defenatly belt sand the edge.

DH has the tools above. Is it hard to do a cutout for a sink? I hope to use the stock laminate from HD or Lowes for our bath and wet bar remodel.

Assuming it's a drop-in sink, cutting the hole isn't hard at all because the lip of the sink will cover any mistakes. Sinks typically come with a template, just use that an a jig saw. You can use a fairly aggressive blade.