I just started thinking of this now, working on LACOOP and all and just looking at all the races.
I mean, there's no mention of their race. Some could assume they are of Hylian Decent, but, there is never mention of Hyrule or the Gods, etc. This is probably because Link's Awakening is a dream according to some rumors.
I've just always wondered because a lot of them are similar looking characters to ones from other games