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Ali - I would go with UIUC. There is nothing like having financial support. Remember that Stanford is located in perhaps the most expensive part of the bay area. I live in Palo Alto within two miles of Stanford and know a thing or two about living expenses there. So, unless you can comfortably afford living and tuition, which will not reduce with time at Stanford unlike public universities, it is a hard sell for me, considering UIUC has already offered support for Ph.D. Also, UIUC is very reputed, which makes it by no means a compromise to choose UIUC over Stanford. You can always transfer or even attempt MIT after joining UIUC and working there for a couple of years and completing their requirements for a Masters.
Don't even think about accepting two places. Universities do have a database and such practices of accepting multiple offers could jeopardize your plans to study. If you are that particular about Stanford, then ask them for a deferal without accepting their offer for fall admission. I wouldn't jeopardize an offer of admission for a Ph.D. with support for a Masters without support at Stanford. There is really no comparison. I hope this helps.
If you are still undecided and money is not an issue, then take a look at faculty in your area of interest and decide. But remember that faculty prefer to work with their Ph.D. candidates. So, unless you attract their attention by stellar performance in their courses (A+ in grad level courses through extra earned credit), Stanford faculty will not be willing to give you face time.
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