Although retro games supported several surround audio technologies Retroarch only supports 2.0 Stereo channel audio output. Systems (or games) that support Dolby Surround include snes, n64, psx, ps2, etc Dolby ProLogic saw very little shine and instead many systems opted for QSound like MegaDrive, Saturn, 32X, or Dreamcast. QSound was also used in Arcade boards like CPS1, CPS2, CPS3 as well as Zinc1 and Zinc2.
Fortunately there are system wide programs that let you manipulate audio in real-time like for example EqualizerAPO. I didn’t see any upmix configs targeted at these technologies so I read a bit and made my own. I tested them thoroughly and they sound good and immersive. Dolby ProLogic II is more complex to code and can’t be reproduced within the simple EqualizerAPO code syntax.
I personally don’t own a 5.1 audio setup, but you can use HeSuVi to upmix 5.1 to 7.1 and then virtualize to 2.0 for headphones or 2.0 for stereo speakers using the program’s HRIRs.