Place a medium skillet over medium-high heat. Pour in dry macaroni noodles. Pour in enough water to barely cover macaroni. Bring to a boil, stirring continuously.
Continue stirring the macaroni until water is almost evaporated and pasta is tender yet firm to the bite, about 8 minutes. Pour in evaporated milk and cream. Add grated cheese and stir until cheese has melted and everything is well combined. Serve immediately.