Place a medium pot over medium heat. Add 1 pound smoked sausage (cut into bite-sized slices), 1/2 medium onion (diced), 2 cloves garlic (minced), and 1 cup sliced mushrooms. Cook, stirring often, until the onions are slightly tender and the sausage is lightly browned, about 5–7 minutes.
Add 3 cups uncooked penne pasta to the pot.
Pour in 2 cups chicken stock or broth and the entire 10-ounce jar roasted red peppers (undrained). Stir to combine, scraping up any browned bits from the bottom of the pot.
Increase heat to bring the mixture to a gentle boil, then reduce heat to medium-low. Cover the pot and cook, stirring every few minutes, for about 5–8 minutes.
Remove the lid, stir, and continue cooking uncovered, stirring occasionally, until the penne is al dente (tender to your preference).
Stir in 2 cups Monterey Jack cheese, 1/2 cup Parmesan cheese, and 2 cups spinach. Continue stirring until the cheeses are melted and the spinach is wilted and evenly distributed, about 1–2 minutes.
Remove from heat and serve.