In a medium bowl, pour in the pancake mix and water, and mix until combined, being careful not to overmix. Batter will be slightly lumpy. Fold in sprinkles of your choice.
Pour ¼ cup of batter onto a non-stick griddle and cook for 1–1 ½ minutes on each side until golden brown over medium heat. Flip only once so the batter doesn't dry out and become flat. Sprinkle additional sprinkles over batter as the pancakes are cooking, about a ½ teaspoon per pancake.
For the homemade whipped topping, whip the heavy cream, vanilla, and powdered sugar together until stiff peaks form.
Dollop whipped cream over warm pancakes, drizzle with maple syrup, and serve.