Preheat your oven to 375°F.
In a large mixing bowl, combine the two cans of chili and the can of cream of mushroom soup. Stir until blended smoothly.
Add garlic powder, onion powder, salt, and black pepper to the chili mixture. Mix until evenly distributed.
Spread the chili mixture evenly across the bottom of a 9x13-inch baking dish.
Layer the frozen tater tots on top of the chili mixture in a single, even layer. Sprinkle the shredded cheeses over the top.
Bake in the preheated oven for 30-35 minutes until the tater tots are golden brown and crispy.
Let the casserole cool for about 5 minutes before serving.