Ive had no problems drilling it with a forstner bit + a drill press. It may be either or a combination of both that's giving me good results.
I'll try a forstner bit in my hand drill later and let you know how that goes.
At what point does the acrylic crack? If its near the start of the cut it may be due to the tapered lead of the spade bit pushing the acrylic apart rather than cutting before the spade starts cutting. Maybe try drilling a pilot hole the same size as the widest part of the tapered lead before running the spade bit down.
If it crack near the middle or end I guess the problem would be that the drill is not cutting at 90 degrees to the material (assuming you are not using a drill press). If you don't have the drill perfectly straight the bit will cut through the material at an angle and will break though on one edge rather than all at the same time. When this happens the bit can have a tendency to grab and then will crack the acrylic.
I would advise investing in a forstner bit and trying that. If you don't have or don't want to buy a drill press you can get a drill stand like [
this]. Obviously you will be limited by the throat depth.
The other solution would be to drill your MDF CP first, line up your acrylic and mark the center of the holes. Drill through the acrylic with a drill big enough to get a flush trim bit in (10-18mm depending on what size bit you use) and then use the router bit to interpolate the holes.