Yes, Confessional Lutherans ordain through the laying on of hands. Even the liberal Lutherans do (When one’s theology is unorthodox, employing traditional outward trappings can be an effective means of masking the rot within.

). Usually the District President/Bishop leads the actual rite, with pastors from the surrounding circuit or district joining in for the actual laying on of hands. Because Lutherans understand each pastor to be a true “bishop” for his congregation(s), there are typically more than just three bishops present for an ordination.
Lutherans understand the power to ordain to the pastoral office to come from the church, in general, and to be exercised by the congregation, locally, and to be safeguarded by those who are already ordained, specifically. The actual Rite of Ordination and the Laying on of Hands doesn’t confer any magical powers or any “greater grace” on the man becoming pastor, but rather confirms his call to be divine and accepts his authority to administer Word and Sacrament to, for, and on behalf of the church. It’s proper teaching and proper administration of the Sacraments that Confessional Lutherans use to measure whether one was ordained in Apostolic Succession, not necessarily who laid hands on whom (though it’s certainly a helpful tool in determining whether one likely comes from sound doctrine).
Video of an LCMS ordination:
youtube.com/watch?v=m7Mc2tvRSKo
I should note that I cannot vouch for how WELS ordains its pastors nowadays or whether all of its churches maintain the laying on of hands. WELS has an understanding of the Office of Holy Ministry that is decidedly outside of Lutheran orthodoxy. WELS erroneously believes that Christ did not actually establish a pastoral office; merely that He gave the church a general sort of permission to create offices as it requires them. This is the single-most divisive issue that separates WELS from LCMS. Under WELS’ weak theology on the issue, there’s really little to keep, say, some guy who starts his own “church house” or even a woman from playing pastor, other than social scolding. This is the source of the saying: “WELS will have a female pastor before it ever allows female suffrage at voters’ assemblies.” In fact, on at least two occasions, WELS has permitted females to preside over the Sacrament when no men were present!

It is a most un-Lutheran practice, stemming from most un-Lutheran belief. Until WELS confesses its error and admits that Christ
did specifically set up a pastoral office, there cannot be full unity between LCMS and WELS.