The duo's futures at Old Trafford have come under increasing scrutiny this season, suffering from a lack of playing time, being sidelined in favour of Alexis Sanchez and Romelu Lukaku and a string of sub-par performances.
Cole told 'Sportsmail': ''Rashford and Martial have a future here but ultimately they can only make the decision whether they want to stay. Both of them have been very frustrated at having limited minutes. When you are young men you want to play week-in, week-out.''
''I like the pair of them. I'd like them both to play because they have so much about them. I have always looked at Martial and Rashford as strikers. When Rashford first got into the team he was playing as a striker but it's about learning.''
''You can learn from playing on the wing because when you move into the central areas you will understand the game a lot better. Thierry Henry started off on the left and then ended up becoming an unbelievable striker. It adds another string to your bow.''
Ahead of the FA Cup final, Cole also shared his thoughts on the potential outcome as Chelsea play United at Wembley on Saturday evening. He said: ''I think it will be very tight.''
''Usually in these games you need to win the midfield and supply your match winners. If you can keep [Eden] Hazard and Willian quiet then there's a chance of winning the game.''
Cole surmised: ''It's an evenly matched game and I wouldn't be surprised if it went to penalties. I'm just hoping it's open. Both teams should go for it because it's a final. Just go enjoy it and express yourself.''