Cook the Rice:
In a medium saucepan, combine the rice, chicken broth, and 1/2 teaspoon salt. Bring to a boil, then reduce to a simmer and cover. Cook for 15-18 minutes, or until the rice is tender and the liquid is absorbed. Set aside.
Season and Cook the Chicken:
While the rice is cooking, season the chicken breasts with garlic powder, onion powder, smoked paprika, salt, and pepper.
Heat olive oil in a large skillet over medium heat. Add the chicken breasts and cook for 6-7 minutes per side until golden brown and cooked through (internal temperature should reach 165°F). Remove the chicken from the skillet and set aside.
Make the Creamy Sauce:
In the same skillet, melt the butter over medium heat. Add the flour and whisk constantly for 1-2 minutes to form a roux.
Slowly pour in the milk and chicken broth, whisking to prevent lumps. Add garlic powder and thyme. Let the mixture simmer for 3-5 minutes, until it thickens.
Stir in the shredded cheddar cheese and grated Parmesan cheese, continuing to stir until the cheese is fully melted and the sauce is smooth.
Combine:
Add the cooked rice to the skillet with the creamy sauce, stirring to combine. Return the cooked chicken to the skillet, placing it on top of the creamy rice mixture. Cover and simmer for an additional 3-5 minutes, allowing the flavors to meld.
Serve:
Garnish with freshly chopped parsley and serve hot. Enjoy your creamy, cheesy, smothered chicken with rice!