Users ARE stakeholders

A stakeholders, by definition, is anyone who "holds" a "stake" in the project/product. And the term is broad, meaning also anyone who is affected by the project/product.

Some stakeholders are more important than others. They are called Key Stakeholders, and might be the project sponsor for example, or a product manager that decides on what gets built (as opposed to users who might just offer suggestions or have to use what's given to them).

So you can visualize users and stakeholders as the same group, but again, they might not have the same power over the outcome of the project/product.

Users ARE stakeholders

A stakeholders, by definition, is anyone who "holds" a "stake" in the project/product. And the term is broad, meaning also anyone who is affected by the project/product.

Some stakeholders are more important than others. They are called Key Stakeholders, and might be the project sponsor for example, or a product manager that decides on what gets built, as opposed to users who might just offer suggestions or have to use what's given to them. The Product Owner deals with stakeholder needs when deciding what the development team should build.

So you can visualize users and stakeholders as the same group. But again, within that group, different stakeholders might have different powers over the outcome of the project/product.