I found a place somewhere in the US that does this. It's been awhile, so I don't have the specific information at hand - do a search and you should find it easy enough.
I DO recall, however, that the treatment (ala carte - that is to say with none of the amenities like room and board) costs around $50,000.
As much as I believe the stems cells would work, it seems that the first step in battling emphysema would be to find a way to stop the progression. Then regenerating new cells would not be as imperative for those who can't afford the extreme cost.
Considering that the stem cells are taken from the bone marrow of the person with the emphysema, you'd think they'd find a way to channel these stem cells to where they are needed.