They probably mean little silver dollar size pancakes, and you are making short stack size. Basicaly you need to make your pancakes only 1/3 the size you currently are. Use a spoon or something to measure them out more precise.

If there is 8 servings at 1/3 cup per serving, that means there are 2.5 cups in the container. You should get 32 small pancakes out of the bag. Each of your pancakes was around an entire serving on it's own.