Preheat oven to 350F degrees. Spray a 9x13-inch baking dish with non-stick cooking spray.
In a large bowl, using a stand mixer or an electric mixer, start mix together 3 large eggs, 1/2 cup oil, 3/4 cup water, 1/4 cup maraschino cherry juice and 1/2 teaspoon almond extract.
Then add in 1 box vanilla 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 16 maraschino cherries, cut into quarters.
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 4 ounces (1/2 block) cream cheese, softened to room temperature and 1/3 cup salted butter, softened to room temperature in a large bowl, using an electric mixer or a stand mixer.
Then add in 2 cups powdered sugar (start the mixer on slow so powdered sugar doesn't fly everywhere.)
Finally, add in 1/2 teaspoon almond extract and 1 Tablespoon 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.
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.