Preheat the oven to 350 degrees F (175 degrees C). Grease a 9×13-inch baking pan.
Unroll one can of crescent rolls and press dough into the bottom of the prepared pan. Set second can aside.
Mix together cream cheese, 1 cup sugar, and vanilla in a medium bowl until smooth and creamy. Spread over crescent dough layer. Unroll second can of crescent rolls and lay dough on top of cream cheese mixture; do not press down.
Pour melted margarine over the entire pan. Combine remaining 1/4 cup sugar and cinnamon in a small bowl; sprinkle on top.
Bake in the preheated oven until top is crisp and golden, 25 to 30 minutes. Once cool, cut into 24 squares.