The only time I see that is when the builder did not have space to place it anywhere else. Not a good idea. I like to have a cabinet next to both appliances, and if possible one in front of the fridge (like an island) for a landing zone when getting things in and out.

When our kitchen designers (at Edmond Kitchen & Bath - search on Houzz) place a fridge, they try to do so to minimize the impact of the large metal sides. Not a desirable focal point....

Robert