Preheat the oven to 400°F, and lightly grease a 7x11-inch baking dish.
Bring a large pot of salted water to a boil. Cook for 3-4 minutes, until crisp-tender. Transfer into a colander to drain.
Heat a medium skillet over low-medium heat, and add the cubed Velveeta, butter, salt, garlic powder, and onion powder. Stir until smooth then remove from heat.
Make sure the broccoli florets are well drained then transfer them to the prepared baking dish. Pour the Velveeta mixture on top, and stir until well combined.
In a medium bowl, mix the crushed crackers with the melted butter. Sprinkle shredded cheddar cheese (if using) and the cracker topping over the broccoli mixture.
Bake, uncovered, for 15-20 minutes until the cheeses begin to bubble and the cracker topping is golden brown. Remove from the oven and serve immediately.
