Microsoft's Photo app (on mobile) just got updated to v16.504.17312.0 (on both non-insiders and insiders' build devices) and with it comes the ability to create and share albums.
I am not entirely sure if this feature is a new addition to this update but this is the first time I am noticing it. So forgive me if I am wrong.
Now if you go to the "Albums" section in the photos app, you can create and share your custom albums:
This feature is already available on the Photos app on PCs (currently running v16.325.12390.0), the PC version also has an option to use Microsoft's Sway app to share/create your albums with stories...