I deleted my Facebook account back in December, just after the UK General Election. I got sick of seeing both sides viciously tearing each other apart, including friends and members of my family. Also, the number of groups I belonged to on there kept posting the same stuff over and over again and I found myself repeatedly looking at it with very little changing.
Since deleting it, I've been much more productive and quite possibly more happy. Sure, I miss seeing what my friends are up to, especially now because I've got a kid and I don't get to see them a lot these days, but again, it's giving me less time staring at my phone, or computer screen and more time with my son and doing things that need to be done.
I'm not going to say that deleting your social media is going to cure all of your modern-day ills, but its certainly working for me.