FINAL EDIT: Sorry to answer my own question, but I wanted to summarizes the answers of Monroe Eskew and Joel David Hamkins and some of the comments that were provided.
The main argument by those who insist on the truth of LCAs is that their truth is the only explanation of their many consequences, including their consistency (Eskew). In other words, "it is the existence [of] the large cardinals and not merely their consistency [that] presents a coherent picture of mathematical reality, which gives rise to all the other consequences of large cardinals of which we are familiar. The view is that we believe in the consistency assertions because we think that the stronger large cardinals exist. Without that existence, we wouldn't have any reason to believe in even the much weaker consistency assertions" (Hamkins). Steel, in particular, objects to theories merely asserting consistency results as "the intrumentalist dodge." However, we often want to compare consistencies of theories without asserting the theories themselves, so it is not clear that the instrumentalist dodge should be dismissed as "unnatural" as Steel claims it to be. See further objections to Steel's claim in Hamkins' papers, "The set-theoretic multiverse" and "Nonlinearity and illfoundedness in the hierarchy of large cardinal consistency strength." For example, in the former paper, Hamkins notes that "The believer in large cardinals is usually happy to consider those cardinals and other set-theoretic properties inside a transitive model, and surely understanding how a particular set-theoretic concept behaves inside a transitive model of set theory is nearly the same as understanding how it behaves in $V$."
In favor of the existence of large cardinals, note that LCAs that are not too far from š¹š„š¢ (like inaccessibles) are accepted by many category theorists in a form of Grothendieck universes; however stronger LCAs require better justification (Eskew). A problem, however, is where, if anywhere, to draw the line: the stronger the LCA, the more likely it is to be inconsistent, and therefore the stronger LCAs are less likely to be accepted by the general mathematical community. However, evidence for "the mutual consistency of the large cardinals" is "their linear ordering in the hierarchy" (Eskew).
For the existence of LCAs in general, "There is an explanation along the lines of, we developed a theoretical framework that can be modified and strengthened in somewhat obvious ways, and this results in a coherent system of hypotheses. We looked at the limits of this framework, and tried to find the exact breaking point" (Eskew). One might ask: Are there any other theoretical frameworks extending ZFC that preclude the existence of nearly all large cardinals? One might be $V = L$, or even the axiom of restriction, but most set theorists dismiss them and instead seek core models that accommodate nearly all large cardinals. (In a vein related to LCAs, there are also various forcing axioms and axioms of determinacy.) One is hard-pressed to find an alternative coherent system of hypotheses that "complete" the axioms of ZFC that preclude the large cardinals besides those, such as the axiom of restriction, that preclude them by fiat.