Bring a large pot of salted water to a boil. Add 8 oz elbow macaroni and cook according to package instructions, about 7-8 minutes, until al dente. Drain and set aside.
Crisp 4 slices of turkey bacon in a skillet over medium heat until golden and crispy. Drain on paper towels, crumble, and set aside.
In a medium saucepan, melt 1/4 cup unsalted butter over medium heat. Sprinkle in 1/4 cup all-purpose flour and whisk constantly for about 2 minutes to cook out raw flour taste.
Slowly pour in 2 cups milk while whisking continuously to avoid lumps. Cook and stir until sauce thickens and coats the back of a spoon, about 4-5 minutes. Stir in 1 teaspoon garlic powder, 1 teaspoon onion powder, salt, and pepper to taste.
Remove sauce from heat and stir in 2 cups shredded sharp cheddar and 1 cup shredded mozzarella until melted and smooth.
Add cooked macaroni and crumbled turkey bacon to the cheese sauce. Stir gently to coat all pasta.
Optional: Preheat oven to 350°F (175°C). Pour mac and cheese into a greased baking dish, sprinkle 1/2 cup breadcrumbs evenly on top, and bake for 15-20 minutes until golden and crispy.
Spoon the creamy bacon mac and cheese into bowls and serve hot.