The visitors led briefly in the second half, but Rovers had too much up front and eventually overwhelmed their opponents with a five-star show.
Paul McManus headed Raith in front after six minutes following good work by the impressive Brian Fairbairn, but Paddy Connolly equalised after 23 minutes when he nodded in a David O'Brien free-kick.
Both sides had chances to take the lead before half-time, but it was Stirling who surged in front after 48 minutes when former St Johnstone striker Chris Hay expertly converted a Connelly cross.
But Raith were soon level when Neil Jablonski picked out Mark Crilly who scored against his former club with a superb header.
Raith took the lead after 62 minutes with Fairbairn the provider on the right and Laurie Ellis smashing home a header at the back post.
McManus then set up Jablonski for the fourth goal after 71 minutes - the former Dundee midfielder side-footing the ball past Myles Hogarth.
Albion were now all at sea, and it was no surprise when McManus got the fifth with 10 minutes left following a Fairbairn corner.
Rovers have now won four of their last five matches, with that defeat coming against Livingstone in the cup, and they look in much better shape than a Stirling side who face a crunch meeting with Peterhead next weekend.