#!/bin/bash
    shopt -s extglob
    pieces=( )
    while read -r line; do
      case $line in
        "["|"]")       printf '%s\n' "$line";;
        *(' ')"}"?(,)) printf '%2s %-35s %s %2s\n' "${pieces[@]}" "$line"; pieces=( );;
        *)             pieces+=( "$line" )
      esac
    done

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[
  {
    "ParameterKey": "FirstStackName",
    "ParameterValue": "Development-App-Database"
  },
  {
    "ParameterKey": "SecondStackName",
    "ParameterValue": "Development-Directory"
  },
  {
    "ParameterKey": "ThirdStackName",
    "ParameterValue": "Development-VPC"
  },
  {
    "ParameterKey": "FourthStackName",
    "ParameterValue": "AMIFunctions"
  },
  {
    "ParameterKey": "FifthKeyName",
    "ParameterValue": "jdoe"
  },
  {
    "ParameterKey": "SixthUserName",
    "ParameterValue": "admin"
  },
  {
    "ParameterKey": "SeventhPassword",
    "ParameterValue": "secretvalue"
  }
]