Egyptian President Hosni Mubarak briefed top Reagan administration officials yesterday on his ideas for a new Middle East peace initiative as pressure mounted for the United States to take some action to break the long-stalled peace process.

"We had a very worthwhile discussion and that's about all I can say at this time," Secretary of State George P. Shultz told reporters after an hour-long meeting with Mubarak.

The Egyptian leader is to meet today with President Reagan.

Mubarak also met with Defense Secretary Frank C. Carlucci to discuss an agreement that is expected to be signed during his four-day visit here formally giving Egypt the same status as Israel as a major non-North Atlantic Treaty Organization ally.

But the major issue on Mubarak's agenda this week is discussing some new formula for getting the peace process off dead center.

Shultz also met yesterday with two West Bank Palestinian leaders, Hanna Siniora and Fayez Abu Rahmeh, who urged him in a letter to support an international peacekeeping force to protect Palestinians in the Israeli-occupied territories from the "brutality of Israel's military authorities."

The two Palestinians said, after a 30-minute meeting they described as "cordial," that they had urged Shultz to take a more active role in the Middle East and to give the Palestine Liberation Organization (PLO), which they called in their letter "our sole legitimate representative," a place at an international peace conference.

A State Department spokesman said Shultz had told Siniora and Rahmeh that the United States had "real problems with the PLO" because it has not renounced violence or recognized Israel. But he also told them he would remain "personally engaged" in the search for ways to move the peace process forward, the spokesman added.

Siniora said at an earlier news conference called by American Jewish, Moslem and Christian peace supporters that they wanted to see Shultz "because we feel the United States has become inactive."

Ronald J. Young, executive director of the newly-created U.S. Interreligious Committee for Peace in the Middle East, read a statement endorsed by over 500 Jewish, Christian and Moslem leaders in the United States calling upon the administration to make peace "an urgent priority of U.S. foreign policy."

Another committee leader, Rabbi Arthur Hertzberg, called upon the administration to exercise its leadership and support "immediate elections for local {Palestinian} representation in the West Bank and Gaza Strip."

One idea now being discussed by some Israeli and U.S. officials is a possible new formula aimed at promoting direct talks between the Israeli government and Palestinian leaders from the occupied territories on interim local autonomy arrangements that could lead eventually to wider negotiations for a comprehensive peace settlement.

Israeli leaders have steadfastly refused to negotiate with the PLO, but at present there is no elected Palestinian leadership in the occupied territories. Israeli Prime Minister Yitzhak Shamir also continues to reject the idea of an international peace conference, leaving the administration with little diplomatic maneuvering room.

U.S. officials are reacting with interest but caution to Mubarak's efforts to launch a new peace initiative. He has brought a set of "new ideas" on reviving the peace process but one official said he did not expect them "to break new ground."

Meanwhile, Morris B. Abram, chairman of the Conference of Presidents of Major American Jewish Organizations, yesterday released in New York a message he said he had received from Shamir Tuesday in which the Israeli prime minister assured him the Israelis "have not and will not adopt" a policy of beating Palestinian demonstrators.

"The use of indiscriminate beatings or any kind of excessive force by our security people or soldiers is not permitted," Shamir told Abram.

The Israeli policy of responding to violence "with punches and blows and not live ammunition" was first announced by Israeli Defense Minister Yitzhak Rabin Jan. 19. But following an international outcry, including a personal appeal by Abram to Shamir on behalf of many American Jewish leaders, the Israeli government has dropped it.

Staff researcher Marianne Yen in New York contributed to this report.