From what I've tested casually, they seem to work the same way protective enchantments do when multiple take effect - left to right (opposite order from stripping), so yes they do stack but don't add. Meaning the chance to block with a 50% from Aegis and 25% from Shields up would be 62.5 - or 75% from Gaurdian and Aegis in conjunction (gaurdian at 50% that is).
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