That’s small, a vinyl cutter would have a hard time cutting letters that small. I have engraved on acrylic before using an engraving bit. I applied masking paper to the plastic then engraved using a .005 engraving bit, then filled it in with black paint. Let it dry and remove the mask. The good thing about masking paper is if you apply Windex it helps loosen the bond. The masking paper is ApliTape 4075.
Good Luck
Russell