In the bowl of your stand mixer or in a medium mixing bowl fitted with an electric hand mixer, whip together the cream cheese, mascarpone, vanilla extract, and sugar until light and fluffy. Gently fold in Cool Whip by hand.
for the vanilla pudding layer
Combine pudding mix and milk in a medium mixing bowl, stirring constantly for 2 minutes (as per package directions). Let stand at least 5 minutes, then gently fold in Cool Whip.
for the peach layer
Combine sliced peaches, sugar, and lemon juice in a medium mixing bowl. Let sit for about 10 minutes to allow flavors to meld.
In a serving bowl, layer crushed vanilla wafer cookies, vanilla pudding, peaches, and cheesecake. Chill in refrigerator until ready to serve. Devour with intensity.