No you can't just use a usb to parallel cable for controlling stepper motors. Basically because the timing isn't right at the board level -- you need a real time operating system, etc.
However there are PIs doing CNC now by running a user interface to control Grbl on an Arduino board. The Pi is freed from the need to do real time operations -- it just basically sends commands and receives status information via USB from the Arduino that is doing the actual stepper signal generation. The Pi runs the CNC user interface.
Do a search and you'll find those projects.
One source of Pi CNC UI programs is zapmaker
http://zapmaker.org/raspberry-pi/runnin ... pberry-pi/
Also my own project here:
http://madmodder.net/index.php/topic,10312.0.html