What should we use paint or stain on our 14 yr old wooden yard fence?

Personally, I would pressure wash & somewhat re-hydrate the wood.when it dries, seal the wood, stain & reseal or paint. This will help preserve & recondition the wood. I would do both sides of fence if possible.

Doesn't matter what type of wood. I have had both, and prefer the look of stain. Buy a sample size and test to make sure it is the color you want. Just know it will fade over time.

If you decide to paint, do not forget to prime! Paint too, will fade over time, some colors more than others.

Stain for sure, pick a semi transparent to penetrate the wood.

I would stain as it does not flake. However be ready for it to soak up a lot of stain as it is dry and hasn’t been done in quite a while. We recently stained our deck - it soaked up quite a bit of stain, but looks great now. The 5 gallon containers are a little more cost effective.

Wood Preservative Stain - quite a choice now avalable........

Yeah I would use an oil-stain to replenish the wood and give it a few more years.

Use a wood stain and sealer in one