In large stand mixer with the paddle attachment, add all pancake ingredients and mix until smooth, about 1-2 minutes. Fold in the additional sprinkles.
Heat electric griddle to medium, about 300° F, and spray with non-stick cooking spray. Scoop pancakes batter by 1/4 cupfuls and cook until bubbles begin to form, about 2 minutes. Flip and cook for additional 2 minutes. Continue with entire batter.
In small bowl or measuring cup, add frosting ingredients, and stir until combined.
Serve pancakes warm with frosting drizzled over top or your favorite topping.