Remove pizza dough from refrigerator about 2 hours ahead of time (to let the dough come to room temperature), unless making fresh pizza dough.
Preheat waffle iron to medium high heat.
Divide pizza dough into 8 small pieces (first divide in half, and then each piece into quarters). Flatten out and shape into approximately 8" in diameter. (Keep in mind the dough will expand a little while cooking).
Brush a little bit of oil on one side of the dough and place the oiled side down into the waffle maker. Or you can spray a little oil on the waffle iron.
Working quickly, top with 2 tablespoon of tomato sauce, shredded mozzarella cheese, and sliced pepperoni.
Place another mound of dough on top and brush the surface with oil before closing the waffle maker.
Cook for 6-8 minutes until crisp and bubbly.
Remove and let cool on a cooling rack.
Sprinkle with fresh basil and serve hot with marinara sauce.