Heat olive oil in a large skillet over medium-high heat.
Season the chicken pieces with garlic powder, smoked paprika, salt, and black pepper.
Add the seasoned chicken to the skillet and cook for 5-6 minutes, stirring occasionally, until the chicken is cooked through and lightly browned.
Add the minced garlic to the skillet and cook for 1 minute until fragrant.
Pour in the buffalo wing sauce and ranch dressing, stirring to coat the chicken evenly.
Add the chicken broth and penne pasta to the skillet, stirring to combine.
Bring the mixture to a boil, then reduce heat to medium-low.
Cover and simmer for 12-15 minutes, stirring occasionally, until the pasta is tender and most of the liquid is absorbed.
Sprinkle the shredded cheddar and mozzarella cheeses evenly over the pasta.
Cover the skillet and cook for an additional 2-3 minutes until the cheese is melted and bubbly.
Remove from heat and garnish with sliced green onions and chopped fresh parsley.
Serve immediately.