In a small bowl, whisk together the mayonnaise, Dijon mustard, honey, and lemon juice until smooth. Reserve half of the sauce for serving.
Pat the chicken breasts dry and season both sides with garlic powder, onion powder, smoked paprika, salt, and black pepper.
Cook the bacon in a large skillet over medium heat until crispy. Transfer to paper towels, then chop into bite-sized pieces.
In the same skillet, sauté the sliced mushrooms for 5 to 6 minutes until tender and lightly browned.
Heat the olive oil in the skillet and sear the chicken breasts for 3 to 4 minutes per side until golden brown.
Transfer the chicken to an oven-safe skillet or baking dish. Brush each chicken breast generously with the honey mustard sauce.
Top each chicken breast with sautéed mushrooms, crispy bacon, Monterey Jack cheese, and cheddar cheese.
Bake in a preheated 375°F (190°C) oven for 15 to 20 minutes, or until the chicken reaches an internal temperature of 165°F (74°C) and the cheese is melted and bubbly.
Remove from the oven and let the chicken rest for 5 minutes.
Garnish with fresh parsley and serve with the remaining honey mustard sauce.