In a medium saucepan over medium heat, combine the butter and olive oil. Stir occasionally until the butter is fully melted and the mixture begins to bubble slightly.
Add the cream cheese to the saucepan. Using a wooden spoon or whisk, stir until the cream cheese is fully incorporated and the mixture is smooth.
Gradually add the heavy whipping cream to the pan. Continue to stir, ensuring that the cream cheese mixture is fully combined with the cream.
Add the Stone House Seasoning to the saucepan. Stir well to combine.
Reduce the heat to low, then gradually stir in the Parmesan cheese and mozzarella cheese. Continue to stir until both cheeses are melted and the sauce is creamy and smooth.
Taste your sauce and adjust the seasoning if necessary.
Once your sauce is beautifully creamy and well-seasoned, remove it from the heat. Serve it immediately over your favorite pasta.