Let the lengths of the sides of the two regular triangles be x cm and y cm, respectively.
Given that the sum of the length of one side in each triangle is 20 cm, we have:
x + y = 20
The ratio of the areas of the two triangles is 1:4. The ratio of the areas of two similar figures is equal to the square of the ratio of their corresponding sides. So,
\left( \frac{x}{y} \right)^2 = \frac{1}{4}
\frac{x^2}{y^2} = \frac{1}{4}
x^2 = \frac{1}{4}y^2
x^2 = \frac{y^2}{4}
x = \frac{y}{2}
Substitute this into the first equation:
\frac{y}{2} + y = 20
\frac{3y}{2} = 20
3y = 40
y = \frac{40}{3} = 13.\overline{3} \text{ cm}
Therefore, the length of the sides of the triangles are:
x = \frac{13.\overline{3}}{2} = 6.\overline{6} \text{ cm}
y = 13.\overline{3} \text{ cm}
\boxed{x = 6.\overline{6} \text{ cm}, y = 13.\overline{3} \text{ cm}}