Sky Sports understands that Bury, Bradford and Rochdale are amongst the teams keeping track on the pair.
The 19-year-old centre-half Fagbola and 20-year-old midfielder Kenyon are both in their first seasons with The Hatters.
The duo have both been almost ever-presents and their displays have caught the eye of a number of clubs.
Rochdale allowed Fagbola to join Stockport in the summer, but now he has impressed after becoming a first-team regular and they are looking at him again.
A Stockport spokesman confirmed that they had not received any official approaches.
"We have had no formal contact with any club for either player," the spokesman told Sky Sports.
"Both players have done incredibly well since joining the club."