In a large mixing bowl, combine 1 cup of all-purpose flour, ¾ cup of brown sugar, 2 teaspoons of baking powder, 1 teaspoon of ground cinnamon, and a pinch of salt. Whisk these dry ingredients thoroughly until they're well blended.

In a separate bowl, whisk together 2 large eggs, ¾ cup of milk, and 1 teaspoon of vanilla extract until smooth. The mixture should be light and slightly frothy.

Gradually pour the wet mixture into the bowl with the dry ingredients, gently stirring until just combined. Fold in 1 cup of shredded carrots and ½ cup of chopped walnuts, if desired.

While the batter rests for a moment, preheat your waffle iron according to manufacturer instructions. Apply a light coat of non-stick spray or brush with melted butter if necessary.

Pour an appropriate amount of batter onto the preheated waffle iron, usually about ¾ cup. Close the lid and allow the waffles to cook until they are golden brown and crisp, typically around 3-5 minutes.

In a small mixing bowl, beat together 4 oz of cream cheese, ½ cup of powdered sugar, and a splash of milk until smooth and creamy. Adjust the consistency by adding more milk if necessary.

Once cooked, carefully remove the waffles from the iron and place them on a serving plate. Drizzle the cream cheese mixture generously over the warm waffles.