To launch CloudyCluster without using Cloud Formation, you can create your own IAM role and select it when you launch the AMI from the EC2 Console.  The IAM role needs to be created with the following permissions (you can just paste these in when you create the role).

{
"Statement": [{
            "Sid": "Stmt1442276049188",
            "Action": [
              "iam:AddRoleToInstanceProfile",
              "iam:AttachRolePolicy",
              "iam:CreateInstanceProfile",
              "iam:CreatePolicy",
              "iam:CreateRole",
              "iam:DeleteInstanceProfile",
              "iam:DeletePolicy",
              "iam:DeleteRole",
              "iam:DeleteRolePolicy",
              "iam:DetachRolePolicy",
              "iam:GetInstanceProfile",
              "iam:GetPolicy",
              "iam:GetRole",
              "iam:GetRolePolicy",
              "iam:GetSSHPublicKey",
              "iam:ListAttachedGroupPolicies",
              "iam:ListAttachedRolePolicies",
              "iam:ListInstanceProfiles",
              "iam:ListInstanceProfilesForRole",
              "iam:ListRolePolicies",
              "iam:ListPolicies",
              "iam:ListRoles",
              "iam:PassRole",
              "iam:PutRolePolicy",
              "iam:RemoveRoleFromInstanceProfile"
            ],
            "Effect": "Allow",
            "Resource": "*"
          }, {
            "Sid": "Stmt1442276116074",
            "Action": [
              "dynamodb:BatchGetItem",
              "dynamodb:BatchWriteItem",
              "dynamodb:CreateTable",
              "dynamodb:DeleteItem",
              "dynamodb:DeleteTable",
              "dynamodb:DescribeTable",
              "dynamodb:GetItem",
              "dynamodb:ListTables",
              "dynamodb:PutItem",
              "dynamodb:Query",
              "dynamodb:Scan",
              "dynamodb:UpdateItem",
              "dynamodb:UpdateTable"
            ],
            "Effect": "Allow",
            "Resource": "*"
          }, {
            "Sid": "Stmt1442276285214",
            "Action": [
              "ec2:AcceptVpcPeeringConnection",
              "ec2:AssociateRouteTable",
              "ec2:AttachClassicLinkVpc",
              "ec2:AttachInternetGateway",
              "ec2:AttachNetworkInterface",
              "ec2:AttachVolume",
              "ec2:AuthorizeSecurityGroupEgress",
              "ec2:AuthorizeSecurityGroupIngress",
              "ec2:CreateInternetGateway",
              "ec2:CreateNetworkAcl",
              "ec2:CreateNetworkAclEntry",
              "ec2:CreateNetworkInterface",
              "ec2:CreateRoute",
              "ec2:CreateRouteTable",
              "ec2:CreateSecurityGroup",
              "ec2:CreateSubnet",
              "ec2:CreateTags",
              "ec2:CreateVolume",
              "ec2:CreateVpc",
              "ec2:CreateVpcPeeringConnection",
              "ec2:DeleteInternetGateway",
              "ec2:DeleteNetworkAcl",
              "ec2:DeleteNetworkAclEntry",
              "ec2:DeleteNetworkInterface",
              "ec2:DeleteRoute",
              "ec2:DeleteRouteTable",
              "ec2:DeleteSecurityGroup",
              "ec2:DeleteSubnet",
              "ec2:DeleteTags",
              "ec2:DeleteVolume",
              "ec2:DeleteVpc",
              "ec2:DeleteVpcPeeringConnection",
              "ec2:DescribeAvailabilityZones",
              "ec2:DescribeClassicLinkInstances",
              "ec2:DescribeImages",
              "ec2:DescribeInstanceAttribute",
              "ec2:DescribeInstanceStatus",
              "ec2:DescribeInstances",
              "ec2:DescribeInternetGateways",
              "ec2:DescribeKeyPairs",
              "ec2:DescribeNetworkAcls",
              "ec2:DescribeNetworkInterfaceAttribute",
              "ec2:DescribeNetworkInterfaces",
              "ec2:DescribePlacementGroups",
              "ec2:DescribeRegions",
              "ec2:DescribeReservedInstances",
              "ec2:DescribeReservedInstancesListings",
              "ec2:DescribeReservedInstancesModifications",
              "ec2:DescribeReservedInstancesOfferings",
              "ec2:DescribeRouteTables",
              "ec2:DescribeSecurityGroups",
              "ec2:DescribeSpotPriceHistory",
              "ec2:DescribeSubnets",
              "ec2:DescribeTags",
              "ec2:DescribeVolumeAttribute",
              "ec2:DescribeVolumeStatus",
              "ec2:DescribeVolumes",
              "ec2:DescribeVpcAttribute",
              "ec2:DescribeVpcClassicLink",
              "ec2:DescribeVpcPeeringConnections",
              "ec2:DescribeVpcs",
              "ec2:DetachClassicLinkVpc",
              "ec2:DetachInternetGateway",
              "ec2:DetachNetworkInterface",
              "ec2:DetachVolume",
              "ec2:DisassociateRouteTable",
              "ec2:EnableVolumeIO",
              "ec2:EnableVpcClassicLink",
              "ec2:ModifyImageAttribute",
              "ec2:ModifyInstanceAttribute",
              "ec2:ModifyNetworkInterfaceAttribute",
              "ec2:ModifySubnetAttribute",
              "ec2:ModifyVolumeAttribute",
              "ec2:ModifyVpcAttribute",
              "ec2:RebootInstances",
              "ec2:RejectVpcPeeringConnection",
              "ec2:ReplaceNetworkAclAssociation",
              "ec2:ReplaceNetworkAclEntry",
              "ec2:ReplaceRoute",
              "ec2:ReplaceRouteTableAssociation",
              "ec2:ReportInstanceStatus",
              "ec2:RequestSpotInstances",
              "ec2:ResetImageAttribute",
              "ec2:ResetInstanceAttribute",
              "ec2:ResetNetworkInterfaceAttribute",
              "ec2:RevokeSecurityGroupEgress",
              "ec2:RevokeSecurityGroupIngress",
              "ec2:RunInstances",
              "ec2:StartInstances",
              "ec2:StopInstances",
              "ec2:TerminateInstances"
            ],
            "Effect": "Allow",
            "Resource": "*"
          }, {
            "Sid": "Stmt1442276374455",
            "Action": [
              "elasticfilesystem:CreateFileSystem",
              "elasticfilesystem:CreateTags",
              "elasticfilesystem:DescribeTags",
              "elasticfilesystem:DeleteTags",
              "elasticfilesystem:CreateMountTarget",
              "elasticfilesystem:ModifyMountTargetSecurityGroups",
              "elasticfilesystem:DescribeMountTargetSecurityGroups",
              "elasticfilesystem:DescribeFileSystems",
              "elasticfilesystem:DescribeMountTargets",
              "elasticfilesystem:DeleteMountTarget",
              "elasticfilesystem:DeleteFileSystem"
            ],
            "Effect": "Allow",
            "Resource": "*"
          }, {
            "Sid": "Stmt1442276489115",
            "Action": [
              "s3:CreateBucket"
            ],
            "Effect": "Allow",
            "Resource": "*"
          }, {
            "Sid": "Stmt1442276489116",
            "Action": [
              "s3:DeleteBucket",
              "s3:GetBucketAcl",
              "s3:PutObjectAcl",
              "s3:PutBucketAcl",
              "s3:ListBucket"
            ],
            "Effect": "Allow",
            "Resource": "arn:aws:s3:::cc*"
          }, {
            "Sid": "Stmt1442276544404",
            "Action": [
              "autoscaling:AttachInstances",
              "autoscaling:CreateAutoScalingGroup",
              "autoscaling:CreateLaunchConfiguration",
              "autoscaling:CreateOrUpdateTags",
              "autoscaling:DeleteAutoScalingGroup",
              "autoscaling:DeleteLaunchConfiguration",
              "autoscaling:DeletePolicy",
              "autoscaling:DeleteTags",
              "autoscaling:DescribeAccountLimits",
              "autoscaling:DescribeAutoScalingGroups",
              "autoscaling:DescribeAutoScalingInstances",
              "autoscaling:DescribeLaunchConfigurations",
              "autoscaling:DescribePolicies",
              "autoscaling:DescribeTags",
              "autoscaling:DetachInstances",
              "autoscaling:ResumeProcesses",
              "autoscaling:SetDesiredCapacity",
              "autoscaling:SuspendProcesses",
              "autoscaling:TerminateInstanceInAutoScalingGroup",
              "autoscaling:UpdateAutoScalingGroup"
            ],
            "Effect": "Allow",
            "Resource": "*"
          }]
}