I am now at a point where everything I play seems to suck, and I am never happy with the songs I am producing or the way in which I play. I have been playing for 4 years.

Now guitar has become a bit boring to me as I have stopped composing because I'm thinking I want to be better, so everytime I play I am practising new chords and techniques. I've even got to the point where I cant be arsed to play anemore, its like a chore.

Has anyone else been at this stage, if so what did you do?
learn something extremely difficult and master it.

let the other UG'ers direct you to those songs.
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yeah thats happened to me. just keep playing and be creative. dont think about the technical side so much. its just a stage and you will get over it
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Or play a genre you don't usually play. OR learn theory
I had that for a while... Then I just decided I finally should try and learn to play some Satriani stuff. This was a new challenge! And got me going again. Then I figured I should really learn theory stuff, so I memorized all the notes on my fretboard, learned major/minor scales, etc. Now I'm working on using modes.

I also record some chord progressions on my acoustic and try and solo over them in different scales. Try and think of stuff you've never played or wanted to get in to (sweeping, double handed tapping, ...) and move on from there.
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I have learned theory, not sure if theres anymore to learn after modes....
I guess thats a different question though
Try a different instrument as well perhaps. Then mix them around a bit.
i think everybody goes through this stage, and i think that you will find that it's going to happen more than once. I don't know your guitar and music background, but here's a couple things I would suggest doing based on my experience and based on experiences of friends and other players:

1. Start playing covers of some of your favorite songs - everytime i seem to get bored or stuck in a rut with my playing, nothing helps me get excited about playing guitar more than learning the guitar parts to a song by one of my favorite bands, cranking up my speakers on my computer and just rocking out playing along with the real song. Basically, I pretend like I'm the lead guitarist of whatever band it is, and we're playing a huge show. sounds lame, i know, but it really works for me. this is also a great form of practice depending on what kind of stuff you'll be playing, because you can cover a wide range of guitar techniques, and it forces you to make sure you're playing everything in time and rhythm with the actual song playing behind you.

2. change up your style - i know you said you have been practicing new techniques, but have you tried completely changing the style of your playing? forget about technique for a second. the other day, just for fun I took a look at some chuck berry tabs, and then just spent two good hours just playing around with straight bluesy type stuff. changed my amp settings around and everything. i never play blues. it was really, really entertaining, and i think familiarizing yourself with as many different styles of play as possible can only benefit you in the long run.
Quote by Lum

Now guitar has become a bit boring to me as I have stopped composing because I'm thinking I want to be better

My 3-Step Boring Transcendence Program:

Step 1: Nothing just "happens to you".

"Now guitar has become"... stop it! The guitar didn't change and suddenly acquire
some new attributes. The world didn't conspire to take your guitar enjoyment
away and make you a victim.

Step 2: You choose what you want.

For some reason you chose boring. Figure out why. Noone else can do it for you.
Maybe you don't feel like doing the work to get to the next level? Maybe your
reasons for playing have changed? Maybe you value other things more now?
You can always get better if you want to.

Step 3: Choose again.

You're always free to make new choices.
Quote by shdowfox17
learn something extremely difficult and master it.

let the other UG'ers direct you to those songs.

This man speaks the truth.
I felt like I was at this stage about a year ago and then I just thought to myself 'I'm gonna learn something thats really hard for me and nail it - what have I got to lose?'

I went off and learned some Fall of Troy and some Lamb of God and voila!! The guitar felt like an exciting new instrument to me.
Ok thanks for the advice.
I think I'm gonna go and buy a Slide and learn how to use that