The speed here is probably more indicative of the speed of your laptop and/or the MySQL configuration you have with it. Presumably your production MySQL configuration is more optimized for InnoDB.
With those stats, I certainly wouldn't expect hours. Even 15 minutes would seem to be fairly long, though not outside the realms of possibility.
It's worth noting that in terms of the process that is taking a while, it shouldn't inherently be much slower than, say, a much more minor upgrade. So, generally, as long as your production server doesn't exhibit the same issues normally, I don't expect the 2.1 upgrade will trigger anything like that for you.
FWIW when I developed exclusively on Windows I tried a bunch of different WAMP-style stacks and actual WAMP and XAMPP themselves really didn't cut the mustard unless I got into the nitty gritty of configuration.
Laragon is a fast & powerful local development environment.
laragon.org
Both of those should be more fit for purpose for XF development/testing than WAMP and XAMPP.
I guess you just have to now weigh up whether it's easier to just wait for this to finish, or start trying out an alternative. As Mike says, you'd generally expect the entire upgrade to finish way within 15 minutes. Your forum isn't too unwieldy in size, and doesn't appear to have a complicated style so I'd agree that even 15 minutes is too long.
You'd likely be at the bit that takes the longest (importing/rebuilding templates) so assuming you're getting slightly closer to 50% completion of that then I'd assume it would be running for another 2+ hours.
Which is really just an unacceptable amount of time (it already is).
I commend you wholeheartedly on taking the steps to do a test upgrade first. Though I'd say, looking at your site, which doesn't look like it has too many style changes, and also doesn't look like it has too many add-ons (as far as I can see), that as long as you make a full backup of the live site you should be fairly safe to just do the upgrade.
If you get this slow issue on the live site I'd be very surprised.