The Blyth-born striker opened the scoring with a clinical close-range finish against their Black Cats counterparts at Whitley Park, who had already been reduced to ten men following Patrick Almond's red card for a dangerous foul on Brad Cross.
In the closing stages of the Premier League 2 clash, United's second-string confirmed maximum points over their local rivals as Stephenson netted his 12th goal of the season in all competitions, reacting quickly to Lucas De Bolle's saved attempt before firing home the rebound from inside the penalty area.
"We're absolutely buzzing with the win," the 18-year-old, who signed his first professional contract with his boyhood club in July, told nufc.co.uk. "It's always a good feeling beating Sunderland too - it's just brilliant.
"It's also a massive win because it helps us stay close to the play-off spots. It's a big three points.
"The red card was a big turning point in the game. It was quite early which played into our favour which was good.
"When we played against Nottingham (a fortnight ago), they went down to ten men and I think that helped for tonight's game. We've had a few games where the opposition have had a player sent off so it was just about keeping concentration and being able to control the game."
It has been an impressive season in front of goal for Stephenson so far this term as his brace against the Black Cats elevated his Premier League 2 goalscoring tally to ten, all of which have been netted from open play, for the 2021/22 campaign.
The teenage forward, who received a Premier League 2 Player of the Month nomination in August after registering five goals in his opening three league matches, was pleased with his individual display as well as reaching double figures before the turn of the new year.
"I'm very pleased with my own performance and helping to get two goals for the team," he added. "I think I played really well, getting into the right areas especially with the second goal when I followed it in. That's what I've been taught to do.
"For my first goal, I'd seen the defender sprinting in towards me fast so I quickly chopped inside and was then able to score.
"I've now scored ten goals in the league and to do that just before Christmas is a very good feeling."