Yes expose does stack, but you only see one icon. Ive built an expose team, and though ive only seen it happen with the rancor i can confirm it does happen.
Resistance Trooper lands an expose on the rancor, then Mace goes, it appears to only be the one expose but sometimes you will get 3 damage numbers up, one from the hit, and two identical ones from the exposes stacking.
Of course the only ways to possibly stack expose are with Mace and Poe putting the second ones on as all the rest land expose b hitting, thereby removing the existing expose. But yeah its possible to stack them.
Edit: expose only does about 3k in T7 raids, which does suck alot and the tenacity is so high you wont land many exposes in t7 either.