(BlueCheeseCult really gave an excellent review, so I’ll be using that as a base)
Let’s start from the composition, and I’ve gotta admit, it’s quite repetitive. In fact, it’s 1 track looped 4 times over. This is not ideal, as it’s quite wasteful making the file take up 4 times the space than if it just looped once (naturally), and the listener will very likely stop listening before the track has had a chance to finish even once. Looping the first part twice and adding some modifications to the latter part in the form of alternate instrumentation or melodies would help tremendously.
Generally, you always want your song to be ‘moving’ somewhere, and thus just repeating the same thing over and over will lead to, well, nowhere. Now there are some good ideas going on at times, but as BlueCheeseCult stated, they all stop prematurely before they have an opportunity to flourish. Overall, the composition seems really hectic, with little to no consistency from section to section.
Regarding the sounds/synths themselves, there’s really not a problem, clearly lending to a pseudo-chiptune motif. And I think that there lies potential for a good track to be extracted.
Still, the downsides mentioned do negatively affect the song in more ways than one. In the end my advice would be to spend some time figuring out how to construct coherent melodies, chord progressions and drum patterns, first working with a simple 4-bar section and then trying to expand that into a structurally sound song. Also spend some time analyzing songs that you fancy, and study how they are structured.