Warm the pancakes according to the package directions.
Meanwhile, in a large bowl, beat the cream cheese, mascarpone cheese, and confectioners' sugar until well combined. In a small bowl, dissolve the coffee granules in the water, then add to the cheese mixture; mix well.
Place 1 pancake on each of 8 plates then dollop each with cheese mixture; repeat the layers two more times, ending with a dollop of the cheese mixture topping each stack. Sprinkle with cocoa and serve immediately.