The LLVM project started in 2000, and the first release was 2003.
https://en.wikipedia.org/wiki/LLVM#History
The first release of GCC was 1987:
https://gcc.gnu.org/wiki/History
That's a 13 year gap, 16 if you count first release rather than the start of work.
That is not, to quote you, "literally decades". It is significantly less than 2 decades.
Secondly, there was lots of language development between 1987 and 2000 -- for convenience, we can say the 1990s.
That is the era when Python ('95), Ruby ('95), Java ('96) and Javascript ('96) and many others first appeared. Perl is contemporaneous with GCC.
It is not true to say that GCC stifled development. What is true is that this is the era when a lot of interpreted and VM/bytecode/runtime-based languages originated, including both the JVM and .NET CLR.
The focus of FOSS language development was arguably elsewhere, maybe _because_ GCC evolved to be a serious competent professional tool in that timeframe.
Additionally, there was a lot of R&D in compiled languages in that decade or so, including Delphi, VB6, the first native C++ compiler from Zorland, and so on.
It took time for FOSS code to catch up and surpass proprietary compilers, yes, but with one good compiler, there was less pressure to do so, and so people worked on scripting languages instead.