Prepare the onions. Peel the onions and slice them into thick 1/2-inch rings. Separate the rings gently.
Layer the onions. Arrange the onion rings in a 9x13-inch baking dish, spreading them evenly across the bottom.
Season generously. Drizzle the melted butter evenly over the onions. Sprinkle the garlic powder, salt, oregano, and Italian seasoning over the top.
Add the cheese. Layer the shredded cheeses evenly over the seasoned onions.
Bake. Cover the dish tightly with foil and bake for 30 minutes. Remove the foil and continue baking for another 15–20 minutes, or until the onions are tender and the cheese is melted, golden, and bubbly.
Serve. Let the dish cool for 5 minutes, then garnish with chopped parsley if desired. Serve warm.