Preheat your oven to 350°F (175°C). Grease and flour a 9×13-inch baking pan or bundt pan.
In a large bowl, cream together the butter and sugar until light and fluffy, about 3-4 minutes.
Add eggs one at a time, beating well after each addition. Stir in the applesauce and vanilla extract until thoroughly combined.
In a separate bowl, whisk together the flour, baking soda, cinnamon, nutmeg, cloves, and salt.
Gradually add the dry ingredients to the wet ingredients, stirring just until combined.
If using raisins and nuts, gently fold them into the batter.
Pour the batter into your prepared pan, spreading evenly.
Bake for 45-50 minutes or until a toothpick inserted into the center comes out clean.
Allow the cake to cool in the pan for 15 minutes, then transfer to a wire rack to cool completely.
For the optional glaze, whisk together powdered sugar, milk, and vanilla until smooth, then drizzle over the cooled cake.