Preheat your oven to 350°F (180°C). Grease and flour a 9x5-inch loaf pan.

In a large bowl, whisk together the flour, baking powder, baking soda, salt, cinnamon, and nutmeg until well combined.

In a separate bowl, beat the granulated sugar, brown sugar, and vegetable oil until smooth. Add the eggs one at a time, mixing well after each addition. Stir in the vanilla extract.

Gradually add the dry ingredients to the wet ingredients, stirring gently until just combined.

Gently fold in the grated carrots and nuts (if using) until evenly incorporated.

Pour the batter into the prepared loaf pan and smooth the top. Bake in the preheated oven for 50-60 minutes, or until a toothpick inserted in the center comes out clean.

Allow the cake to cool in the pan for 10 minutes before transferring it to a wire rack to cool completely.

Mix together 1 cup powdered sugar with 2 tablespoons of milk and ½ teaspoon vanilla extract. Drizzle over the cooled cake.

Slice the cake and serve it fresh, enjoying the flavors with family or friends!