Yes, it sounds a LOT like Stereo Madness. Not a bad thing though, just funny.
I love chiptune music, so with this being "unintentionally paired" with Stereo Madness, it was my guilty pleasure! Wish it was a big longer however.
I can't find any real flaws with it, that's a first. Your melody is so fun :3 I love the background noise, it's so... positive.
I love this song so so much.
The only thing I don't like is the bubbly sound at 1:05, probably just personal preference though :p