We have communion and dedication of infants and adult baptism. Does the job for us.
All of the Protestant denominations I know of consider the few sacraments they do practice as symbolic only (the quote a line from my Baptist business partners Sunday School lesson---"an outward sign of an inner conversion")--NOT a rite that actually confers the sacred benefits. Despite that, the RC church accepts as valid baptisms performed "according to the Trinitarian formula" as valid, as anyone can validly perform baptism, because the RC church DOES believe that the rite, properly performed, yields the desired result. But as for the rest, without a valid apostolic succession, they ARE meaningless symbols, which leaves both the Lutherans and Episcopalians out to dry.