The reference for this prophecy is not apparent. While the intent of the prophecy is contained in Nephi's copy of his revelation, this wording is not. This verse through verse 17 appear to be a citation from a known text because it is given in prophetic first person where the speaker is the Lord. As there is no reference, it must be assumed that it is a text familiar to the congregation, but nevertheless one no longer available.
The wording and the them so closely follow Nephi's vision that the best presumption is that it is a large plate version of the same vision.
Sociological information: the emphasis on the king in verse 14 is interesting. Certainly the referent comes directly from Isaiah, but remembering the present context of the Nephites, it may be even more significant. Nephi's selection as king is very understated in his own account:
2 Ne. 5:18 And it came to pass that they would that I should be their king. But I, Nephi, was desirous that they should have no king; nevertheless, I did for them according to that which was in my power.
Nephi states his preference that the people have no king, but is less specific that he accepted the position. Nevertheless, Jacob reminds his people at the beginning of this sermon that they look to Nephi as their king (2 Nephi 6:2). The obvious position of Nephi as king is demonstrated in Jacob 1:9 where the transition from the first to second king occurs. Nephi is clearly a king, but also clearly not the king being referenced in Jacob's application of Isaiah.
The sense of the threat of raising up a king against the Lord still fits best into the reconstructed scenario of a people surrounded by other nations. In this case, nations with kings and ideologies hostile to the Nephites who represent Zion.