Start by seasoning your chicken breasts with a flavorful blend of garlic powder, onion powder, smoked paprika, salt, and pepper. Heat olive oil in a large skillet over medium-high heat and sear the chicken until golden brown, about 4-5 minutes per side. Set aside while you prepare the rest.
In a saucepan, bring the chicken broth and salt to a boil. Stir in your rice, reduce the heat to low, and cover. Let it simmer for 15-18 minutes until the rice is tender and has absorbed all the liquid. Fluff it with a fork and keep warm.
Using the same skillet from the chicken, melt the butter over medium heat. Whisk in the flour and cook until it turns slightly golden, about 1-2 minutes. Gradually pour in the milk and broth, whisking constantly to create a smooth sauce. Add your seasonings and both cheeses, stirring until everything is melted and beautifully combined.
Return the chicken to the skillet, nestling it into that luxurious sauce. Cover and let it simmer gently for 10 minutes until the chicken is cooked through and tender. Serve over the hot rice, generously spooning the creamy sauce over top, and finish with a sprinkle of fresh parsley.