Cook the elbow macaroni according to package instructions until al dente. Drain and set aside.

In a large mixing bowl, combine the cooked macaroni, butter, cheddar cheese, mozzarella cheese, milk, garlic powder, onion powder, smoked paprika, salt, and pepper. Mix well until the cheese is melted and the ingredients are combined.

Preheat the air fryer to 350°F (175°C).

Transfer the macaroni mixture to an air fryer-safe baking dish or a greased aluminum foil pan. If using breadcrumbs, sprinkle them evenly on top.

Place the dish in the air fryer basket and cook for 12-15 minutes, until the top is bubbly and golden brown.

Remove from the air fryer and let it cool for a few minutes before serving.