Preheat your oven to 350°F (175°C). Grease a 9x13-inch baking dish with cooking spray or butter.
In a large skillet over medium heat, cook the crumbled sausage and chopped bacon until browned and cooked through, about 5-7 minutes. Drain excess grease and set aside.
In a large bowl, whisk together the eggs, milk, salt, black pepper, garlic powder, and onion powder until well combined.
Add the cubed bread to the egg mixture, stirring gently to coat. Then fold in the cooked sausage, bacon, cheese, and optional bell pepper and onion.
Pour the mixture into the prepared baking dish, spreading it evenly.
Bake in the preheated oven for 30-35 minutes, or until the casserole is set in the center and lightly golden on top.
Allow the casserole to cool for 5-10 minutes before slicing and serving.