Preheat oven to 350°F. Grease a 9x13-inch baking pan. Set aside.
Whisk the flour, baking powder, baking soda, and salt together.
2½ cups all-purpose flour, 1 teaspoon baking powder, ½ teaspoon baking soda, ½ teaspoon kosher salt
In the bowl of a stand mixer fitted with the paddle attachment, beat the butter and sugar together, then add in the eggs, milk, sour cream, vanilla extract, and almond extract and mix until incorporated.
1 cup unsalted butter, 1½ cups granulated sugar, 3 large eggs, 1 cup milk, ½ cup sour cream, 1½ teaspoons pure vanilla extract, ½ teaspoon almond extract
Add the dry ingredients to the wet ingredients and mix until just combined. Fold in the sprinkles.
⅓ cup rainbow sprinkles
Pour the batter into the prepared baking pan and bake for 23-28 minutes, or until a toothpick inserted in the center of the cake comes out clean. Let the cake cool completely.
While the cake cools, make the frosting: In the bowl of a stand mixer fitted with the whisk attachment, cream butter until smooth.
1 cup unsalted butter
Sift in the powdered sugar. Mix until well incorporated.
3 cups powdered sugar
Add in the milk, vanilla extract, almond extract, and salt, and mix again until the frosting reaches a smooth and creamy consistency with stiff peaks.
2-3 tablespoons milk, ½ teaspoon pure vanilla extract, ¼ teaspoon almond extract, ⅛ teaspoon kosher salt
Once the cake has cooled, frost the cake and top with sprinkles.