Preheat the Oven: Start by preheating your oven to 350°F (175°C) and lightly grease a 9x13-inch baking dish to prevent sticking.
Cook the Macaroni: Follow the package instructions to cook the macaroni until al dente. Drain and set it aside.
Prepare the Cheese Sauce: In a large saucepan, melt half a stick of butter over medium heat. Once melted, whisk in the flour, cooking for 1-2 minutes until it’s bubbly and golden.
Gradually whisk in the milk and whipping cream, ensuring the mixture is smooth. Cook, stirring constantly, until the sauce thickens (about 5-7 minutes).
Season with smoked paprika, salt, and pepper.
Add the Cheese: Remove the sauce from the heat and stir in the shredded cheddar and Gruyère until the cheese melts completely, creating a smooth sauce. Adjust the seasoning with more salt and pepper if needed.
Combine and Transfer: Stir the cooked macaroni into the cheese sauce until evenly coated. Pour the mac and cheese mixture into the prepared baking dish, spreading it out evenly.
Prepare the Topping: Melt the remaining butter in a small saucepan and mix in the panko breadcrumbs until well coated.
In a small bowl, combine the buttered breadcrumbs and grated Parmesan cheese. Sprinkle this mixture evenly over the mac and cheese.
Bake: Bake for 20-25 minutes, until the topping is golden and the sauce bubbles around the edges. For a crispier topping, you can broil the dish for 2-3 minutes, but watch closely to prevent burning.
Serve: Let the dish cool for a few minutes before serving so that the sauce thickens slightly.