What's wrong with this picture...

[GoldDigger]

it looks to me like this is in a basement with the wall the cabinets are on built out from the structural wall.

i think you could just take out the panelboard and install a smaller junction box in its place and relocate it somewhere else. it should not be real hard to route wires over to the new location. I think this is a case where you might be able to "fish" NM behind the cabinet wall without the normally required supporting and securing.

Or it might just be simpler to move the cabinets out of the way.

On the grounds that the junction box would have to be accessible but would not require working space?

 

[petersonra]

On the grounds that the junction box would have to be accessible but would not require working space?

You could make an access panel that would barely show in the back of the cabinets.

ETA:
I don't see any way to solve the code issues without either moving the counter or moving the panel.

It seems to me there is a code provision to allow a special kind of NM connector to be concealed so you might not even need a junction box.

 

[kwired]

This was a house OP was looking into purchasing - so now he has some info from the home inspection to use as a bargaining tool with the seller.

This panel could be the main service panel - if so it may take even more effort to move it. Service or not, you about have to see it in person to know just how hard it may be to move without taking out the cabinets. What is on the back side of that wall could be taken into consideration as well - possible one could just open the back side of wall and gain access and have less demolition and reconstruction - maybe even just turn the panel around so it faces out the other side of the wall.