A 20-year-old Caroline County, Va., man was arrested last night and charged with two counts of murder in the stabbing deaths of elderly twin sisters in their small Golansville, Va., home 80 miles south of Washington, Virginia State Police and the Caroline County Sheriff's office reported.

The suspect, Paul Myron Stephens, who lives in Ruther Glen, several miles from the two widows' home, was being held without bond in the county jail at Bowling Green. Stephens had been released from the Rockingham County Jail on Sept. 4 after serving part of a 20-year sentence imposed in a rape case, said Sgt. Carl Deavers of the Virginia State Police.

The bodies of the women, 72-year-old Martha Corker and her sister, Mary Carneal, were discovered Wednesday by their brother, John Acors.

Carneal's body was lying face down in a hallway near the kitchen. There was blood on the woman's blouse and on the floor.

The nude body of Martha Corker was found lying face down on a bed. The medical examiner is conducting tests to determine whether the women had been sexually assaulted.

The women, who were last seen alive Sunday as they returned from church, had been dead for several days when their bodies were found, said state medical examiner Dr. M. H. Fierro.

Acors said there was no sign of forced entry into the house.

Police contacted Stephens at his home and arrested him shortly afterward, at 6:30 p.m., said Sheriff Ottie Moore, who would not say precisely where Stephens was arrested.

The sergeant said Stephens was convicted in Rockingham County in the spring of 1975 for raping his 56-year-old babysitter. Then 15 years old, Stephens was tried as an adult and sentenced to 20 years, with 15 years suspended.