A cache affinity and processor utilization technique efficiently load balances work in a storage input/output (I/O) stack among a plurality of processors and associated processor cores of a node. The storage I/O stack employs one or more non-blocking messaging kernel (MK) threads that execute non-blocking message handlers (i.e., non-blocking services). The technique load balances work between the processor cores sharing a last level cache (LLC) (i.e., intra-LLC processor load balancing), and load balances work between the processors having separate LLCs (i.e., inter-LLC processor load balancing). The technique may allocate a predetermined number of logical processors for use by an MK scheduler to schedule the non-blocking services within the storage I/O stack, as well as allocate a remaining number of logical processors for use by blocking services, e.g., scheduled by an operating system kernel scheduler.