Grounspeak instructions do not mention cemeteries as no-go areas. They only mention on cemeteries is in a sentence: "Caches placed in areas which are highly sensitive to the extra traffic that would be caused by vehicles and humans (examples may include archaeological or historic sites or cemeteries)". Accordingly, they are speaking on sites sensitive to extra traffic.
My personal opinion is that cemeteries are part of cultural hertitage and one should also be able to present them in connection to geocaching. Of course one should not hide a geocache in a cemetery (even though there might be expections), but at least to me hedge around a cemetery is OK. There are a lot of geocaches around cemeteries in Finland and elsewhere and I do not see any reason, why they should not be there.
My personal opinion is, that cemeteries that are still actively used i.e. there are still burials done or around us are still living persons directly related to the graved ones, should NOT be used for geocaching or other hobbies. There are people visiting the grave yard and remembering their beloved parents, child etc. and it is not fair to these people to play any games or sports in these areas. Just for comparison, is it OK to make an orienteering control point to cemetery? Is it OK to make a jogging or marathon route through cemetery? Is it OK to play petanque in the area?
Perhaps this is a cultural question. To me it is OK to create a cache close to church, especially if there is a permission from some church officials and it is also OK to create a cache outside fence of any cemetery however preferably still so far that the logging of the cache can be done without any risk of disturbance to people visiting the cemetery. Also cemeteries that have not been used for ~80-100 years and are more a nice quiet parks than active cemeteries could be used delicately for geocaching.