Preheat oven to 350F degrees. Spray a 9" x 13" baking dish with non-stick cooking spray.
In a large bowl, using a stand mixer or an electric mixer, start mixing all the 'wet' ingredients together (eggs, oil, water, maraschino cherry juice and almond extract.)
Then add in cake mix. Stir well to combine. If using a stand mixer, you will need to scrape down the sides of the bowl to make sure it mixes completely.
Gently stir in the chopped maraschino cherries.
Pour batter into prepared baking dish.
Bake for about 30 minutes until an inserted toothpick comes out clean. Allow cake to cool completely before making the frosting.
When ready to make the frosting, mix together the softened cream cheese and butter in a large bowl, using an electric mixer.
Then add in powdered sugar (start the mixer on slow so powdered sugar doesn't fly everywhere.) Finally, add in almond extract and maraschino cherry juice.
Mix until smooth then spread onto cooled cake.
Top slices with maraschino cherries.
Video
Notes
I think the almond extract is necessary in this recipe. It really turns this from a good cake to an amazing cake. If you absolutely won't use almond extract or can't find it, then just leave it out.
This is a homemade frosting that is incredibly easy. Just make sure your cream cheese is completely softened to room temperature or it won't mix up nice and smooth.
You can also purchase a store-bought cream cheese frosting and stir in a little maraschino juice and almond extract.
This cake needs to be stored, covered in the refrigerator and will keep for up to 3 days. It can also be frozen. Just store in an airtight container and it will keep for up to 3 months.