You can only save one. If you die trying neither is saved AND you die.
So let me assess the situation.
You are obviously alone and there is a house that is burning with 2 babies in it. I can only save one.
I am obviously without outside help and I know neither of them.
By saving one it would be unfair to the other.
By trying to save both I "might" end up dead along with both of them.
This leaves a huge paradox in my mind.
I suppose the best would be to try and save one, and then try to come back for the other as fast as possible.
The only thing I can think of.