Preheat the oven to 350°F/177ºC. Prepare a muffin pan by lining with cupcake tins.
Add the sifted cake flour, baking powder, baking soda, and salt into a medium bowl and whisk to combine. Set aside.
In the bowl of your stand mixer (a handheld mixer works fine too!), cream the butter on high for 2 minutes. Add in the sugar and continue to beat on medium-high until light and fluffy (another 2 minutes), scraping down the bowl and paddle as needed. With the mixer on low speed, mix in the whole egg, then add the egg white and mix until combined. Add the vanilla extract, almond extract, and sour cream. Mix for one minute on high speed, scraping down the bowl and paddle once more.
Turn the mixer off and add in the dry ingredients all at once. Mix on low speed until just combined, then slowly pour in the milk while continuing to mix on low until incorporated, about 1 minute. Scrape down the sides and bottom of the bowl and give it a few stirs to make sure there are no lumps. The batter will be slightly thick.
Gently fold the flour-coated rainbow sprinkles into the cake batter by hand, then divide evenly between the prepared cupcake tins (no more than 2/3 full) and bake for 14-18 minutes, or until a toothpick inserted comes out clean. Transfer the cupcakes onto a wire rack to cool completely before applying any frosting.