Two-cycle optical pulses with duration of 5 fs and energy of 0.7 mJ have been generated at 1 kHz by compressing the 38 fs laser pulses from a carrier-envelope phase (CEP) controlled Ti:sapphire laser system through a cascade filamentation compression technique. A simple and effective method is developed to suppress multiple filament formation and stabilize a single filament by inserting a soft aperture with an appropriate diameter into the driving laser beam prior to focusing, resulting in an excellent compressed beam quality. The good beam quality and potentially higher peak power make this ultrashort laser pulse source a significant tool for high-field physics applications.