That VSX has to be 20ish years old? So the short answer is yes you'd gain an improvement going with a new surround receiver (i.e. Anthem, Marantz etc). Look for one that has room correction, stable to 4ohm and has good clean power.
If this is not a part of a surround sound system the I'm with Matt's recommendation of going after a nice integrated amp. Like this one that is barely used (it's mine they're selling for me)