OK, this is really interesting! Wouldn't have thought of it until I saw it, but I think this is what is happening.
You likely have Transport-belt-capacity-1, so you can stack 2 high on belts.
The Wood processing unit is able to stack it's output on belts, but as you know it only outputs to one lane.
In Loaders Modernized, your mod setting likely has stacking to None or Separate Stake Loader, so the yellow loader will not stack output.
By placing the loader directly at the Wood processing unit's output, the Wood processing unit is outputting stacks to the lane it outputs - directly onto the "belt" portion of the loader. The loader is pulling wood out of the Wood processing unit to place on the unfilled lane - but not stacked.
So, a stack of 2 high (8 total) on one lane and 1 high (4 total) on the other lane. That gives you the 12 items per belt segment. When you get to Transport-belt-capacity-2 you will have 16 per belt segment 12 [4 * 3 high] and 4 [4 * 1 high]).