Spray large nonstick skillet with nonstick cooking spray. Heat over medium-high heat until hot. Add carrots and onion; cook and stir 8 to 10 minutes or until vegetables are crisp-tender, adding 2 to 3 tablespoons water if necessary to prevent sticking.
Stir in all remaining ingredients except cheese. Bring to a boil. Reduce heat to medium-low; cover and simmer 5 to 7 minutes, stirring once. Remove from heat. Sprinkle with cheese. Cover; let stand until cheese is melted.