Bring a large pot of salted water to a boil. Add the elbow macaroni and cook according to the package instructions until al dente, usually about 7-8 minutes. Drain the pasta and set it aside.
In a medium saucepan, melt the unsalted butter over medium heat. Once melted, whisk in the all-purpose flour to create a roux. Continue whisking for about 1-2 minutes until the mixture bubbles but does not brown. Slowly pour in the milk, whisking constantly to avoid lumps. Cook this mixture until it thickens slightly, about 3-5 minutes.
Once the sauce has thickened, stir in the garlic powder, onion powder, salt, and black pepper. Remove the saucepan from heat and gradually add the shredded sharp cheddar and mozzarella cheeses, stirring until the cheese is completely melted and the sauce is smooth.
Add the cooked macaroni to the cheese sauce and stir until the pasta is fully coated.
In a small bowl, mix the bread crumbs with the cooked and crumbled turkey bacon. Sprinkle this mixture evenly over the mac and cheese.
Preheat your oven to 350°F (175°C). Transfer the mac and cheese to a baking dish and bake uncovered for 20-25 minutes, or until the topping is golden brown and crispy.