Prepare all ingredients before starting.
Bake the yellow cake mix according to its package instructions in two 8-inch round pans.
Cool the cake layers fully, then carefully cut each layer horizontally to create four thin layers.
Beat the cream cheese until smooth and add the confectioners' sugar gradually.
Incorporate the crushed pineapple along with its juice and drained mandarin oranges, reserving a few slices for decoration.
Mix in the dry instant vanilla pudding mix, then gently fold in the thawed whipped topping.
Place one cake layer cut-side up on your serving plate and spread with the prepared frosting.
Add the next cake layer cut-side down and cover with more frosting, continuing this pattern until all layers are stacked.
Cover the entire cake with the remaining frosting and adorn the top using the reserved mandarin orange slices.
For optimal flavor and texture, chill the cake in the refrigerator overnight prior to serving.
