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one project for each cloud provider, with a stack for each k8s cluster

I would definitely go with this

the only difference in each stack should be what's in the yaml, right

correct. don't put the stack yamls in separate directories (I'm not even sure if you can?). It's up to you, but I personally rely minimally on the Stack yaml files for complex stacks. I instead use the programming language to construct the configurations for each stack. You can be more expressive that way and you can have type-safety too.

Thanks @steep-toddler-94095 - so something like this, right?

\source-repo
 \projects
  \aws-clusters
   __main__.py
   Pulumi.aws-cluster1.yaml
   Pulumi.aws-cluster2.yaml
  \gcp-clusters
   __main__.py
   Pulumi.gcp-cluster1.yaml
   Pulumi.gcp-cluster2.yaml

yup

We use branches instead to do this. That way you have a cleaner way of tracking changes and sort of gives you more separation of environments.

interesting, thanks