Preheat the oven to 350 degrees Fahrenheit.
In a medium mixing bowl or bowl of a stand mixer, add the butter and both sugars. Cream together for about 1 minute.
Add in the molasses and vanilla and mix until combined.
Add in the dry ingredients, making sure to spoon and level the flour, don't scoop right from the bag. Beat until combined, then use a rubber spatula to finish folding together.
Use a medium (2 tablespoon) cookie scoop and roll into balls. Place on a baking sheet, then flatten lightly with your fingers.
Bake for 9-13 minutes (I always do 11 but all ovens are different). They will continue to harden as they cool.
To make the frosting, cream together the room temperature butter and cream cheese for about 1 minute.
Beat in the powdered sugar for 2-3 minutes until fluffy. beat in the vanilla.
When the cookies are cool, frost and enjoy!