In ZFC, a cardinal is an isomorphism class of sets. However ZFC doesn't explicitly have classes; NBG, which is a conservative extension of ZFC does.
There is no largest cardinal by Cantors Theorem
There is no set of all sets - it is in fact a class.
Classes do not have cardinalities, as these have been only defined for sets - but if one could define a cardinality for classes - wouldn't this, in some sense be a 'limit' of all cardinals in Set, including all large cardinal axioms?
Thus, is it possible to extend the notion of cardinality in any significant way to classes?
Apologies for the loose phrasing of this question. It was originally going to be a posting on Philosophy.SE, but I thought I would get better answers here.
Sure, if you modify the definitions to allow this then the cardinalilty of any proper class would be considered the largest cardinal. (Cantor's proof would then only apply to cardinals that are sets.) However, this is not very interesting.
No, large cardinal axioms are quite different objects from cardinals, and the relationship between largeness of cardinals and "largeness" (strength) of large cardinal axioms is not as straightforward as you might think. (And anyway, there is no largest large cardinal axiom because there is no maximal consistent recursive extension of $\mathsf{ZFC}$.)
Many examples of large cardinal axioms take properties of the class of cardinals, e.g. infinitude, regularity (closure under limits of short sequences,) and closure under power sets, and posit that some (set-sized) cardinal already has these property. Large cardinal axioms therefore provide a sense in which the set/class distinction is made relative, rather than absolute.
This is why I said that the possibility of considering the size of a proper class as a "largest cardinal" is not interesting; if your model of $\mathsf{ZFC}$ is realized as $V_\kappa$ where $\kappa$ is an inaccessible cardinal in my model of $\mathsf{ZFC}$, then a proper class in your model is a set in my model. Moreover, I can go even farther and define $V_{\kappa+1}$, $V_{\kappa+2}$, etc. So the large cardinal axiom "there is an inaccessible cardinal" transcends the notion of cardinals in $\mathsf{ZFC}$ to a much greater extent than the "one-step" extension of the notion of cardinals that you get by allowing proper classes.