Yes, you can cast eithr one on someone in armor and shield. No, it won't stack - the recipient would use the better of the two, and only the better of the two. Same as with any other case where someone has two bonusses of the same name.
Mage armor produces an armor bonus; that armor bonus won't stack with the bonus of any worn armor - whichever single bonus is higher is the one the character gets to use.
Ditto with Shield, and shields (though, unless they have a magical shield, it's almost assured thatthe shield spell will give a better bonus).
The main benefit might be, Mage Armor and Shield are both [force] effects, and thus, are fully effective against incorporeal touch attacks. Thus, even the plate-armor-wearing TANK might appreciate a Mage Armor spell, to bring his AC against such attacks up from 10 or 11, to 14 or 15 - and a shield would bring that up even further, to a reasonable 18 or 19.
This is all based on pretty basic, fundamental 3.XE rules - specifically, the rules for stacking bonusses.