Add the water, flour, sugar, salt, parmesan cheese, onion flakes, garlic powder, oregano, and active dry yeast to the bread machine pan in the order recommended by the manufacturer.

Add the chopped pepperoni and drained mushrooms to the pan.

Top with shredded mozzarella cheese.

Select the medium crust setting on the bread machine.

Select either the white bread cycle or the rapid bake cycle.

Start the bread machine and allow it to complete the baking process.

Once the bread is finished, remove it from the bread machine and let it cool slightly before slicing and serving.