Hi Kristen,
Ohmygoodness, I'm so excited for your family's upcoming vacation! Those are such fun ages, and your children will definitely love the magic of a Walt Disney World Resort vacation!
I'm happy to let you know that yes, the
attractions that your family will be experiencing together will definitely be able to accommodate one child on your lap with one next to you too. With five children, my family spent many years and lots of Disney vacations with small children on laps and wedged in between us enjoying so many fun moments together. You'll find that attractions without height restrictions utilize more of bench-type seating than individual seats, providing maximum flexibility for different family needs.
Don't forget about
Rider Switch, too. It is a wonderful option to help minimize your wait times if the adults in your party want to ride something that your little ones are too small for. My husband and I would utilize Rider Switch after lunch while we let our little ones nap in the stroller. Then, after we got to ride something more thrilling, our kids would wake up just in time to catch the afternoon parade.
The Festival of Fantasy Parade at Magic Kingdom Park is full of favorite Characters, dazzling performers, and magical floats, and I'm sure your children would LOVE it!
Thanks for visiting us at the Disney Parks Moms Panel, Kristen, and feel free to let us know if you have any other questions. Have a wonderful vacation with your family, and soak up ALL the magic with your kids!
Missy