No - one minecart can hold twelve other minecarts, since SIZE values are also divided by 10.
To bad we can't put fully-loaded minecarts inside other minecarts.
You can't? Somebody forgot to tell the dwarves:
████████FPS: 100 (48)███████████████████████ -oaken minecart- ███████████████████████████
█ █
█ Weight: 11866Γ █
█ █
█ Contents: █
█ █
█ -enormous oaken corkscrew- █
█ gneiss blocks █
█ gneiss blocks █
█ gneiss blocks █
█ gneiss blocks █
█ orthoclase █
█ ashen minecart █
█ gneiss █
█ gneiss █
█ orthoclase █
█ orthoclase █
█ orthoclase █
█ +willow minecart+ f: Forbid █
█ orthoclase █
█ d: Dump h: Hide █
█ -+/*: Scroll Enter: View selected v: Description █
█ Set Follow Hotkey (F1 etc.): None █
█ █
██████████████████████████████████████████████████████████████████████████████████████████
Granted, I only had nine minecarts lying around, but there seems to be no problem filling 8 of them with stone and throwing those all into the ninth. The capacity used is the same as if the carts were empty: 64% (plus a bit more for the other junk that happened to be inside the outer minecart).
I had actually come back to say that this might make an alternative to magma pistons... 144 minecarts with 2/7 magma each, stored in twelve wood minecarts, in turn stored in a single wood mine cart, which is then hauled aloft in style by a single dwarf with a wheelbarrow. Build two track stops side by side, out of magma-safe materials, surrounded by magma-safe grates over your cistern. Max friction, each dumping onto the other. Have a dwarf push the first cart in, it dumps twelve onto the other, they all dump their twelve each back on the first. Voila... 40 tiles of 7/7 magma, one more 6/7, and two stuck on the track stops (lost to evaporation).
It would take a lot more user time to set everything up, but a lot less game time, I would think: only three round trips to the depths, plus the time to fiddle with stockpiles at top and bottom. You could probably do several rounds in the time it takes to mine out the piston, get everything set for the cave-in, and clean up the mess afterward to reset it.
Myself, I plan to do this with just 8 minecarts so I can get two smelters and two forges up and running. Done right, I could have magma power before my second spring!