For extra flavor, roast the jalapeño slices in a dry pan over medium heat for 1-2 minutes per side until slightly charred. This enhances their smoky depth and milds the heat slightly.
Spread a thin layer of cream cheese on one side of each bread slice. Sprinkle garlic powder and smoked paprika over the cream cheese. Layer cheddar, pepper jack, and jalapeño slices on two slices of bread. Drizzle with honey if using. Top with the remaining bread slices.
Spread butter on the outside of each sandwich. Heat a skillet over medium-low heat and place the sandwiches in the pan. Cook for 3-4 minutes on each side until the bread is golden brown and the cheese is melted. Press lightly with a spatula to ensure even cooking.
Remove from the pan, let it cool slightly, then slice in half. Serve hot and enjoy your spicy, cheesy delight!