Whisk together the flour, sugar, baking powder, baking soda, and salt in a large bowl.
Whisk the buttermilk, melted butter, vanilla, and almond extract, then stir into the dry ingredients just until combined. Rest the batter 5 minutes.
Gently fold in the rainbow sprinkles right before cooking so the colors stay bright and do not bleed. Longer jimmies style sprinkles work best here.
Cook 1/4 cup portions on a greased griddle over medium heat until bubbles form, then flip and cook until golden on both sides.
Whisk the powdered sugar, milk, and vanilla for the glaze, adding a few extra drops of milk if needed until smooth and pourable.
Stack the pancakes, drizzle with the vanilla glaze, and shower with extra sprinkles. It tastes exactly like birthday cake for breakfast.