A semiconductor device has a plurality of semiconductor die mounted to a carrier. An encapsulant is deposited over the carrier around a peripheral region of the semiconductor die. A plurality of vias is formed through the encapsulant. A first conductive layer is conformally applied over a sidewall of the vias to form conductive vias. A second conductive layer is formed over a first surface of the semiconductor die between the conductive vias and contact pads of the semiconductor die. The first and second conductive layers can be formed during the same manufacturing process. A third conductive layer is formed over a second surface of the semiconductor die opposite the first surface of the semiconductor die. The third conductive layer is electrically connected to the conductive vias. A plurality of semiconductor die is stacked and electrically connected through the conductive vias and second and third conductive layers.