Is "welcome home" a complete sentence?
There are some sentences that do not require object pronouns:
Go.
Being one example, where the implied object pronoun (you) is omitted.
But can we have a complete sentence where both the subject and object are omitted, as in the case of
(I) welcome (you) home
"Welcome home" is a complete sentence. Welcome serves as an imperative in much the same way as "Stand up" is considered a complete sentence. This is NOT an utterance or an exception to any rule
In the book, "Commands: A Cross-linguistic Typology" found on Google books, page 179, the example of "Welcome home" is given as a non-command form of the Imperative.