In a large bowl using a hand mixer or in the bowl of a stand mixer fitted with a paddle attachment, beat the softened butter and granulated sugar together on medium-high speed until light and fluffy, about 2-3 minutes.

Add the egg yolk, almond extract, and vanilla extract. Beat on medium speed until combined, scraping down the sides of the bowl as needed.

In a separate medium bowl, whisk together the all-purpose flour and salt.

With the mixer on low speed, gradually add the dry ingredients to the wet ingredients and mix until just combined. Do not overmix.

Gather the dough into a ball, flatten it into a disk, and wrap it tightly in plastic wrap. Chill the dough in the refrigerator for at least 30 minutes and up to 2 days. This step is crucial to prevent the cookies from spreading.

Preheat your oven to 350°F (175°C). Line two large baking sheets with parchment paper.

Place the lightly beaten egg white in one small bowl and the sparkling sugar in another.

Remove the dough from the refrigerator. Scoop and roll the dough into 1-inch balls (about 1 tablespoon each).

Dip each dough ball into the egg white, letting any excess drip off. Then, roll the ball in the sparkling sugar to coat completely.

Place the sugar-coated balls about 2 inches apart on the prepared baking sheets. Using your thumb or the back of a 1/2 teaspoon measuring spoon, gently press an indentation into the center of each ball.

Carefully place one well-drained maraschino cherry into each indentation.

Bake for 12-14 minutes, or until the edges are lightly golden brown. The centers will still look soft.

Let the cookies cool on the baking sheet for 5 minutes before transferring them to a wire rack to cool completely.