Let $f$ be an invertible, real-valued function of a real variable. What are the conditions for us to be able to write down the inverse function $f^{-1}$ as a closed-form expression?
Example. Define $g:[0,\infty)\rightarrow\mathbb{R}$ by $g(x)=x^2$. Then we can write down the inverse function $g^{-1}:[0,\infty)\rightarrow[0,\infty)$ as: $g^{-1}(x)=\sqrt{x}$.
Example (edited). Define $h:\mathbb{R}\rightarrow\mathbb{R}$ by $h(x)=x^5+2x+1$. Then we cannot write down the inverse function $h^{-1}:\mathbb{R}\rightarrow\mathbb{R}$ as a closed-form expression.
The answer to this depends strongly on what you mean by "closed form": For any invertible function $f$, one can also give a name to $f^{-1}$, so the answer depends on which functions are allowed to appear in "closed-form" expressions.
NB if you allow algebraic expressions, then your counterexample isn't one. The inverse of $x \mapsto x^3 + x$ is \begin{multline} y \mapsto \frac{1}{6} \sqrt[3]{108 y + 12 \sqrt{81 y^2 + 12}} - \frac{2}{\sqrt[3]{108 y + 12 \sqrt{81 y^2 + 12}}} \\ = \frac{2}{\sqrt{3}}\,\sinh\left[\frac{1}{3}\,\text{arcsinh}\left(\frac{3\sqrt{3}y}{2}\right)\right].\end{multline} (For a derivation of second expression on the right, see Jack D'Aurizio's answer in the linked question.)
On the other hand, the Galois group of $p(x) := x^5 + 2 x + 1$ is $S_5$, which is nonsolvable, so there is no algebraic expression for its real root and hence there is no algebraic expression for $p^{-1}$.