What happens to my stay in Thailand after I cancel my work visa and can I apply for a travel visa after?

If you are on an extension of stay <- that you got from the immigration office. You go cancel your work permit, then go cancel your extension of stay. Then you need to exit the country on that date.. There is no 14 days to stay.

Most people go cancel their work permit then their extension a week or so before the actual termination date. Immgirations will cancel the extension and then stamp you in until the last day on your termination paperwork. Then you can leave the country