Preheat your oven to 350°F (175°C) and prepare a 9-inch loaf pan by greasing with butter and lining with parchment paper.

In a stand mixer, cream together the unsalted butter and granulated sugar on medium speed for 4-5 minutes until light and fluffy.

Add the eggs one at a time, fully mixing each before the next. Pour in the molasses and mix until smooth.

In a separate bowl, whisk together the flour, baking powder, baking soda, cinnamon, ginger, nutmeg, cloves, and allspice.

Gradually add the dry ingredients to the wet mixture, mixing gently until just combined to avoid overmixing.

Pour the batter into the prepared loaf pan and smooth the top. Bake for 60-65 minutes or until a toothpick comes out clean.

Let the cake cool in the pan for 10 minutes, then transfer to a wire rack to cool completely before frosting.

Prepare the frosting by combining cream cheese, confectioners' sugar, and vanilla in a bowl, beating until smooth.

Once the cake is cooled, spread the cream cheese frosting generously over the top, allowing some to drip down the sides.