1. A non-transitory computer-readable storage medium having computer-executable instructions stored thereupon which, when executed by a computer, cause the computer to: receive, from a first computing device associated with a first stakeholder, first optimization preferences identifying one or more first metrics of interest for a distributed application, wherein the first optimization preferences are associated with at least one utility curve for the first metrics of interest that defines a relationship between a measure of performance and a measure of effectiveness, and one or more weights indicating a weighting associated with the measures of effectiveness for the first metrics of interest: receive, from a second computing device associated with a second stakeholder, second optimization preferences identifying one or more second metrics of interest for a distributed application: generate a plurality of candidate sets of application parameter values for the distributed application; for the plurality of candidate sets of application parameter values, configure the distributed application to utilize one of the plurality of candidate sets of application parameter values, determine a measure of performance for the first metrics of interest and the second metrics of interest based at least in part upon execution of the distributed application utilizing the one of the plurality of candidate sets of application parameter values, utilize the at least one utility curve to compute a measure of effectiveness for the first metrics of interest, and perform a multi-attribute utility rollup operation utilizing the computed measure of effectiveness and the one or more weights to generate a first grand measure of merit for the one of the plurality of candidate sets of application parameter values; select an optimized set of application parameter values from the plurality of candidate sets of application parameter values based, at least in part, upon a comparison of the first grand measure of merit computed for the one of the plurality of candidate sets of application parameter values and a second grand measure of merit computed for a second one of the plurality of candidate sets of application parameter values; and cause the distributed application to be configured to utilize the optimized set of application parameter values.