I hear ya. All kidding aside, another one of the reasons I didn't make a male Human was because of your dilemma also. So I figured if it's not going to look like me at all, I'm just gonna make it a woman (the only people who aren't supposed to have facial hair way).
Exo can get beards like Jetfire from Transformers: ROTF. Stuff like face fins, data cable dreads, etc.
There is definitely facial hair in the game, even the Alpha. One of the male human NPCs in the ship dock area or whatever had one. He had dark blue hair. It may have just been left out as an option for character creation for the Alpha.
The lack of beards is disappointing, but they seem to be leaning toward a more military look for the characters, so I guess it's not too surprising. But beard options are usually the thing that gets me to choose a male over female characters.
I'm a dick, and I want to subject other people to that. ~ R.I.P. Ryan Davis