Yeah, as Ed Beal discusses, the 3% isn't serious, but they like to encourage you to "bump" to sell fatter wire.
When you calculate voltage drop, you should really use the practical load you expect to have realistically. I have a comparable cottage with no major electric appliances, and we're fat and happy with 30A@120V service. So I'd expect 10A @ 240V to be a normal load for the rest of the house. The two mini-splits, you have to guess at duty cycle, let's see, Phoenix, so 100% then :)
I jest, but that's exactly what I'd do. Full nameplate of both mini-splits, plus 10A, and that's the amperage figure to put into the Voltage Drop Calculator.
Heck, you definitely should never enter more than 80% of breaker trip. Because you're required to derate (up-rate) your service by 125% of whatever your expected load would be; if someone did really want 100A, they'd need a 125A breaker and wires.
Because it's breakered at 100A, the minimum size is #1 aluminum. I don't know the size of the two mini-splits, but if they're 20A, you may not need a bump at all. Just the same, I would consider a bump to 1/0. That'll give you some expansion room for the unexpected, like the Chevy Bolt.
I would not even consider copper for this, unless your last name is Kennecott. Aluminum is actually a superlative conductor, lighter and far cheaper for the same ampacity (although more bulky). In the 70s they tried it on small branch circuits and the copper lugs didn't play well with it, but it's always worked fantastic for large feeder like this. And the panel lugs will be aluminum, which is the universal donor.
Don't forget to make the cottage panel nice and huge. At build time, extra breaker spaces are dirt cheap; running out of spaces is an expensive and difficult problem. We recommend 40 space panels without hesitation. It's totally OK to use a 225A sub-panel fed by a 100A breaker; the "main breaker" is only there to be a disconnect switch. Beware "12 space/24 circuits; the larger "circuits" number is no practical use, because most breakers these days need to be AFCI or GFCI, and those take a whole space.