Does Command tab not do this?

It brings up a list of applications in most recently to least recently used order, so two apps switched to/from will constantly switch places.

Not if the windows are both from the same program. Then it's a different keybind, CMD-~ which doesn't have the same priority order style as CMD-Tab. I get caught up on this constantly, to the point where I decided to stop using one Chrome window under my work profile, and one under my personal profile, just so I can have my personal browser under a different program so CMD-Tab works better.