To expand on BOAC's post...
The answer as given, eagle, is stick to the book UNLESS there is an over-riding reason not to
and being non-type specific.
To
not retract the flaps is different to the SOP / trained for profile / expectation of both crew members. To deviate from the SOP requires justifcation, and such justification needs to be agreed by both crew members. That agreement may be by company / type SOP (which you say is not offered?), or on the day briefing (prior takeoff). If it has not been established until after the engine failure, it is not the time to break the profile / checks and start discussing "if it is a good idea"
As a guide, in our outfit / type, it is in our books for an (exceptional)immediate VMC return option, which cleans up to 1 stage of Flap. I tend, when the weather is appropriate to "mention" it in the brief as an option. However, I can see workload meaning it difficult to get it agreed at the appropriate moment - it jumps a fair amount of the decision / diagnosis process(es).
NoD