Step 1: Preheat your oven to 350°F (175°C). Grease and flour two 8 or 9-inch round cake pans. For easier removal, line the bottoms with parchment paper.
Step 2: In a large mixing bowl, whisk together the all-purpose flour, 1 1/4 cups of the granulated sugar, baking powder, salt, and baking soda.
Step 3: Add the softened unsalted butter to the dry ingredients. Mix on low speed (using an electric mixer or by hand) until the mixture resembles coarse crumbs or wet sand.
Step 4: Pour in the buttermilk and 1 teaspoon of vanilla extract. Mix on low speed until the batter just comes together. Increase the speed to medium and beat for 30 seconds, ensuring the batter is smooth.
Step 5: Incorporate the eggs one at a time, mixing well after each addition and scraping down the sides of the bowl as needed. Continue to mix until the batter is thick and smooth.
Step 6: Divide the batter evenly between your prepared cake pans. Smooth the tops with a spatula. Bake for 21-24 minutes for 8-inch pans, or 28-33 minutes for 9-inch pans, or until a toothpick inserted into the center comes out clean.
Step 7: Let the cakes cool in their pans for 5-10 minutes before carefully inverting them onto a wire rack to cool completely. This prevents them from sticking or collapsing.
Step 8: While the cakes cool, hull and slice the fresh strawberries. Place them in a bowl, sprinkle with the remaining 1/2 cup of granulated sugar, and gently toss. Let them sit at room temperature for at least 30 minutes to macerate and release their juices.
Step 9: Prepare the stabilized whipped cream: In a stand mixer fitted with a whisk attachment, beat the softened cream cheese, powdered sugar, and 1 teaspoon of vanilla extract until smooth and creamy. Gradually add the cold heavy cream and beat on high speed until stiff peaks form. Be careful not to overbeat.
Step 10: To assemble, place one cooled cake layer on your serving platter. Spread a generous layer of stabilized whipped cream over the top, then spoon half of the macerated strawberries (including some of their delicious juice) evenly over the cream. Place the second cake layer on top, and repeat with the remaining whipped cream and strawberries.