Well, we have a sink upstairs and one downstairs in the bathroom. We all use the sinks together. I don't see why the children should have their own sink? I don't see any benefit in that.
I find it already cramped at the sink when two of us brush our teeth or get ready at the same time. In the worst case, if 5 people are using the bathroom simultaneously, I would find a second sink definitely appropriate.
What do you think about the sink standing alone in the middle and the toilet being placed at the bottom right next to the window, basically facing the door?
The image couldn't be any smaller, right?! I would put the toilet above the bathtub, if the head of the bathtub is at the window. Then a double washbasin fits below.