Hi Ross Ferens,
to license the virtual machines running on your environment, you will need to purchase Windows Server Datacenter licenses. Each Windows Server Datacenter license covers two physical processors and provides unlimited virtualization rights for all virtual machines running on the licensed server.
In your case, you have two servers with a total of 56 cores, so you will need to purchase 28 Windows Server Datacenter licenses (one for each physical processor). This will allow you to run an unlimited number of virtual machines on each server, as long as they are running on the licensed hardware.
Please note that you will also need to purchase Client Access Licenses (CALs) for each user or device that will be accessing the virtual machines running on your servers.
Hope it helps.
Best regards,
Lei