The Kelvin-Voigt (KV) is the most simple viscoelastic model (it is the prototype of rubbery materials). For the "continuum" version of the model, the total stress will be the sum of the stress in each component. Similarly, in the "discrete" version, the total internal force will be the sum of the force imparted by the spring and by the dash.
The KV relations are $\sigma_{el} = E \epsilon $ for the elastic stress, $\sigma_{visc} = \eta \dot{\epsilon} $ for the viscous stress, where $\epsilon$ is the strain.
Since the components are in parallel, $\sigma_{el}+\sigma_{visc}$ is the total internal stress. Force balance tells us that, for applied stress $\sigma_{ext}$, the total stress is zero: $\sigma_{el}+\sigma_{visc}+\sigma_{ext}=0$. The problem is... where is the inertia? There is nothing like $\ddot{\epsilon}$, meaning that the continuum model is valid in the overdamped regime. No worries, we can add something like this by hand (for sure our system of masses has inertia!).
Discrete model - You can see $\epsilon$ as the relative distance between the two masses, $x_1-x_2$ (not that this is an analogy, beware of this "problem" related to finite strains), and $\sigma_{ext}$ as an applied force (in the continuum model $\sigma_{ext}$ is, dimensionally speaking, a force per unit area, while $\epsilon$ is dimensionless).
In practice, the KV model $\sigma_{el}+\sigma_{visc}+\sigma_{ext}=0$ translates in $F_{i}+f_i=0$ for both masses ($i=1,2$), where $f_i$ is the total internal mutual force. To go beyond overdamped motion, we have to go beyond force balance: $F_{i}+f_i\neq 0$. Consider the following system:
$$
m_1 \ddot{x}_1 = F_1 + f
\qquad
m_2 \ddot{x}_2 = F_2 - f
$$
where $f$ is the (mutual) internal force between the two masses due to the spring and the dash. The system is such that the total momentum of the system changes only due to the external forces (internal forces can not change the motion of the centre of mass!):
$$
\frac{d}{dt}(m_1 \dot{x}_1+m_2 \dot{x}_2) = F_1+F_2
$$
Now we are almost done: just remember the analogy between force $f$ and internal stresses ($f \leftrightarrow \sigma_{el}+\sigma_{visc}$, The total internal stress in the KV model is the sum of the elastic one and viscous one!). Therefore, $f= - k (x_1-x_2-l_0) - \eta(\dot{x}_1-\dot{x}_2)$, so that:
$$
m_1 \ddot{x}_1 = F_1 - k (x_1-x_2-l_0) - \eta(\dot{x}_1-\dot{x}_2)
\\
m_2 \ddot{x}_2 = F_2 - k (x_2-x_1+l_0) - \eta(\dot{x}_2-\dot{x}_1)
$$
Overdamped regime - The final system for the 2 masses reduces to $F_1+f=F_2-f=0$ in the overdamped regime, in analogy with the original continuum KV model $\sigma_{ext}+\sigma_{el}+\sigma_{visc}=0$. For $F_1=F_2=0$, any displacement $|x_1-x_2|\neq l_0$ will result in an exponential relaxation, exactly like the continuous KV model.