Wash peaches thoroughly and slice them thinly (about ¼-inch thickness). Toss with lemon juice to prevent browning and enhance flavor. If using peach preserves, warm them slightly and gently fold into your sliced peaches for an intensified peachy flavor profile.
In a large mixing bowl, beat the softened cream cheese and sugar until smooth and fluffy (about 2 minutes).
In a separate bowl, whip the heavy cream and vanilla extract to stiff peaks.
Gently fold the whipped cream into the cream cheese mixture using a rubber spatula.
Line a 9×13-inch baking dish with graham crackers, breaking them as needed to cover the bottom completely.
Spread approximately 1/4 of your cream mixture evenly over the crackers. Arrange a layer of peach slices over the cream, using about 1/3 of your prepared peaches.
Repeat the layering process: graham crackers, cream mixture, peaches. Continue until you have used all ingredients, finishing with a layer of the cream mixture on top. Reserve a few peach slices for garnishing.
Cover the dish with plastic wrap and refrigerate for at least 6 hours, though overnight chilling yields the best results.
Just before serving, arrange the reserved peach slices on top of the cake. For an extra visual appeal, dust lightly with cinnamon or drizzle with a tablespoon of honey.