Urn was is very much an experimental project for me: part of me wanted to see how much I could do with as little syntax. Consequently Urn has comparatively few "special forms", but meaning it generates less idiomatic Lua.
Fennel is much more an alternative syntax to Lua. Most Lua constructs have a corresponding Fennel form, meaning the generated code looks more "like Lua". Lua interop is also much nicer: Urn requires you to declare all variables, so you have to jump through hoops to use external libraries. With Fennel you can just go ahead like you would with Lua.
I've toyed around with ideas related to your project. Such as: What if... you had a Lisp that instead of being based around the classic linked list, was based around the Lua table instead?
I've briefly tried to come up with formulations for how the code itself should be represented as a series of nested tables.
And perhaps have a series of nested tables for all variables in the runtime as well (including local ones), though Lua sort of does this now.
All that would increase ease the introspection, creation of macros, and other fun stuff. I hadn't started deciding on a syntax or anything either.
Urn seems to be greater in scope and code. Fennel is intentionally small and a single file that can be dragged into any project.
Fennel does not try to provide Lisp idioms or abstractions unless they have a direct mapping in Lua. For example, there are no linked lists (use tables), and no continuations (use coroutines). Operators are implemented as special forms rather than function literals so that they can be easily implemented efficiently.
Fennel also includes abstractions that might not make sense in a normal lisp but help make interfacing with Lua code easier. For example, symbols that have a dot in them, like "table.insert", have the correct interpretation and can be used as normal symbols. Method calls are supported such via the `(:)` form; `(: "hello" :find "llo")` compiles to `("hello"):find("llo")`.
Fennel takes this approach because Lua is almost already a Lisp, so I felt it was best to add the minimum abstraction necessary. Also, I prefer simple and transparent tools.
Urn may provide more comfortable and "Lispy" abstractions, however, because it takes more control of the environment. It also seems to have pretty great error messages compared to Fennel, and a good website. There are definitely some features in Urn that aren't (yet) in Fennel, like built in pattern matching, although Fennel does do destructuring.