Prepare the Oven and Pans: Preheat the oven to 350°F (175°C). Line two standard cupcake pans with 16 cupcake liners and set them aside.
Cream the Butter and Sugar: Using a stand mixer, beat the melted butter and granulated sugar for approximately 2–3 minutes, until the mixture becomes light and fluffy. Add the vanilla extract and almond extract, mixing until incorporated. Combine the Dry Ingredients: In a medium mixing bowl, whisk together the all-purpose flour, cake flour, baking powder, baking soda, and salt until evenly combined.
Mix the Wet Ingredients: In a glass measuring cup, combine the buttermilk, maraschino cherry juice, and finely chopped maraschino cherries. Stir to distribute the cherries throughout the liquid.
Combine the Cupcake Batter: With the mixer running on low speed, alternately add the dry flour mixture and the buttermilk-cherry mixture to the butter mixture. Continue alternating until everything is incorporated and the batter looks smooth and uniform. Avoid overmixing. Beat the Egg Whites: In a separate medium mixing bowl, use a hand mixer to beat the egg whites until stiff peaks form. The egg whites should hold their shape when the beaters are lifted.
Fold the Egg Whites into the Batter: Gently fold the beaten egg whites into the cupcake batter using a spatula. Continue until evenly incorporated while taking care not to deflate the mixture.
Fill the Cupcake Liners: Divide the batter evenly among the 16 prepared liners, filling each approximately three-quarters full.
Bake the Cupcakes: Place the pans in the preheated oven and bake for 20–25 minutes. The cupcakes are ready when their tops spring back when lightly touched.
Cool the Cupcakes: Remove the pans from the oven and let the cupcakes rest in the pans for 5 minutes. Transfer them to a wire rack and allow them to cool completely, approximately 25 minutes, before frosting.
Prepare the Frosting Base: Fit a stand mixer with the whisk attachment. Add the room-temperature butter, vanilla extract, almond extract, and a pinch of salt. Beat for 2–3 minutes, until the mixture is fluffy.
Add the Cream and Powdered Sugar: With the mixer running on low speed, pour in the heavy whipping cream. Gradually add the powdered sugar, approximately ½ cup at a time, mixing after each addition until the frosting becomes soft but firm enough to hold its shape. Whip the Frosting: Beat the frosting for an additional 3 minutes, until it looks light and fluffy. If it is too thick, add a little more heavy whipping cream and beat for another 30 seconds.
Frost the Cooled Cupcakes: Once the cupcakes have cooled completely, pipe decorative swirls of almond buttercream onto each cupcake or spread the frosting over the tops with a spatula.
Add the Finishing Decorations: If desired, garnish the frosted cupcakes with crushed almonds or additional cherries before serving.
