Photoacoustic imaging (PAI) is an emerging medical imaging modality capable of providing high spatial resolution of Ultrasound (US) imaging and high contrast of optical imaging. Delay-and-Sum (DAS) is the most common beamforming algorithm in PAI. However, using DAS beamformer leads to low resolution images and considerable contribution of off-axis signals. A new paradigm namely Delay-Multiply-and-Sum (DMAS), which was originally used as a reconstruction algorithm in confocal microwave imaging, was introduced to overcome the challenges in DAS. DMAS was used in PAI systems and it was shown that this algorithm results in resolution improvement and sidelobe degrading. However, DMAS is still sensitive to high levels of noise, and resolution improvement is not satisfying. Here, we propose a novel algorithm based on DAS algebra inside DMAS formula expansion, Double Stage DMAS (DS-DMAS), which improves the image resolution and levels of sidelobe, and is much less sensitive to high level of noise compared to DMAS. The performance of DS-DMAS algorithm is evaluated numerically and experimentally. The resulted images are evaluated qualitatively and quantitatively using established quality metrics including signal-to-noise ratio (SNR), full-width-half-maximum (FWHM) and contrast ratio (CR). It is shown that DS-DMAS outperforms DAS and DMAS at the expense of higher computational load. DS-DMAS reduces the lateral valley for about 15 dB and improves the SNR and FWHM better than 13% and 30%, respectively. Moreover, the levels of sidelobe are reduced for about 10 dB in comparison with those in DMAS.