There is an idea floating around that goes something like "the language we speak controls the thoughts we are able to have." It's the subject of serious study, and like all good bullshit there is a corn kernel of truth in it, but the fact is that it's still bullshit.
The arguments in favor go thus: several experiments have been able to demonstrate that certain functions of the mind are, indeed, tied to the available vocabulary, and without that vocabulary the mind simply refuses to recognize some concepts. Languages that do not differentiate blue from green, for example, produce people who don't draw a line between the two colors, and indeed there are whole cities that have blue lights on their traffic signals because well who gives a shit, it's still under the "grue" umbrella, isn't it? In another example, deaf children who learned a limited vocabulary form of sign language were less able to imagine the inner mental experience of others, and this was not changed until they were exposed to people with a wider vocabulary, at which point they caught up quickly with their peers.
So, if we extrapolate this outward, you can see the pull towards imagining that all of human experience is dictated by our language filters. That we are incapable of feeling things for which we have no name, and the things that we can feel have an indelible mark upon them based on our available vocabulary. Perhaps this extends out even further, and there are whole realms of existence that we are blind to from lack of words to understand them.
This, again, is bullshit.
We have all experienced the "wit of the stairwell," when you think of just the right thing to say after the moment is lost and you can never get it back again, regardless of whether we're speakers of French or have heard the term "l'esprit d'escalier." The internet was overjoyed when it found the word "shadenfreude" to perfectly describe its pre-existing love of watching others suffer. Even neologisms like "sonder" have not opened up new feelings -- most of us had already felt at one point or another the complex emotional stew that accompanies an acute realization that others' lives are as real and complex as our own. Experiences can defy our ability to describe them, which by necessity means that our experiences are not limited to what we can describe.
There is, however, something of value in all this.
Vocabulary does not limit what we can feel, but it does put a limit on what we can express, and a lack of vocabulary can pump the brakes on our self-reflection and even our ability to cope. Processing an emotion often requires a certain level of understanding, of examining the thing and putting it in the correct box on the mental shelf. We do this internally -- through the filter of our own consciousness and vocabulary -- and externally by talking things through with trusted friends. When we don't have a word for an experience, we have trouble putting it in the box ourselves, and we have trouble explaining it to others. We rely on metaphor and lengthy descriptions, which make us more self conscious about the whole thing. "If this was really so common, wouldn't there be a quick shorthand for it? I must really be crazy," quoth the brainweasels.
So expanding our vocabulary, especially our emotional vocabulary, is a huge positive thing! And as neologisms and hyper-specialized loanwords infect the wider world of internet english, we can expect to see improvements in our ability to process and communicate our own feelings, and an increased ability to empathize with the complex emotional states of others.
We're not going to start seeing word fairies, though, so quit it.