I'm running two displays with a resolution of 2048x1152 on my Mac Mini 2012 (Intel HD 4000). A higher resolution does impact the performance but not that much and it runs well enough for daily use. And with latest Mac Mini you shouldn't have a problem.
But you should know that the Mac Mini 2014 has two Thunderbolt 2 and one HDMI ports. On the Thunderbolt ports you can run up to two displays at 2560x1600 and on the HDMI port you can run up to 2048x1152 at 60Hz, 3840x2160 resolution at 30Hz or 4096x2160 resolution at 24Hz.
In my opinion, running lower than 60Hz is no fun for desktop use. So your case I would recommend one display of 3840x2160 for the HDMI port OR two displays with a resolution of 2048x1152 for the Thunderbolt 2 ports (as I did).
If you're interested how two displays of 2048x1152 perform on a Mac Mini 2012 I can record a video for you. But I can tell you that it runs smooth. But don't expect too much gaming performance. It's a great setup for desktop use though.
Here's a screenshot of 2x 2048x1152 so you can get an idea of: