In a saucepan, simmer water, sugar, and butter until it comes to a quick boil.
Add all the flour quickly and with a wooden spoon, combine and stir for 2-3 minutes until a film forms at the bottom of the pot.
Transfer to stand mixer or regular bowl and allow to cool for 5 minutes.
Add eggs one at a time, until all eggs are incorporated.
Preheat and grease your waffle iron - scoop 1/2 cup of batter into center and cook waffles as directed by manufacturer, about 3-5 minutes each.
Have sugar and cinnamon mixture ready and as waffles come out of waffle iron, toss on both sides. Serve warm with Nutella, chocolate sauce, or whipped cream.