Superposing pre-stress on a SS304 sheet metal blank in biaxial tension and performing a single point incremental forming operation on the stretched blank is investigated experimentally. By applying a pre-stress to the sheet metal blank prior to incremental forming, the resulting microstructural change can be affected to obtain functionally graded materials according to the intended application. In austenitic stainless steels, this variation of the stress states alters the phase transformation, specifically the martensitic transformation kinetics, by influencing key process parameters, such as process force, temperature, and equivalent plastic strain. The phase transformation in truncated square pyramids is measured using magnetic induction. These measurements validate the effectiveness of the stress superposition method for achieving the desired mechanical properties based on altering the final microstructure of a simple geometry.