Hi Zach,
Stereo makes the sound appear to come from left, right, every position between and all around like it was recorded or live. Many people have a stereo system with the speakers too close together so the stereo effect is cancelled and it becomes mono. My stereo speakers are spaced in the corners in front of me and frequently sounds seem to originate beside me or even behind me!
I compare the difference between mono and stereo like the difference between black and white and colour.