I like mine to be large enough to hold the wash and rinse water from one load of laundry, just in case the drain gets blocked.

Umm....you can't figure out how big a sink you need or want? Really?

I think the question is whether there are any regulations governing this issue, like, does the sink have to hold enough water for one cycle of laundry in case he drain plugs.

If you want to contain one cycle, plug the drain and watch one cycle to see if the current sink is the right size for that.

ikea has a cute one.

"I think the question is whether there are any regulations governing this issue, like, does the sink have to hold enough water for one cycle of laundry in case he drain plugs. "

No regulations.
You could discharge into a standpipe and have NO place to collect the water if the drain clogs.

It depends on how much space you have and how much risk you are willing to take if the drain clogs.

If you are replacing the sink, why not take the time to add a proper stand pipe onto which to hang the washer's drain hose?

As far as the drain clogging, that usually happens in the sink's drain basket which is well before the standpipe.

"If you are replacing the sink, why not take the time to add a proper stand pipe onto which to hang the washer's drain hose? "

Some of us much prefer a sink that can hold a loads worth of water.
At least you have a chance of not flooding with a clog.