I've been where you are. It's like a glass ceiling.
At the time, I was a CNC technician, making top merit pay (which, at this company wasn't great), been with the company for 15 years, couldn't go any farther up in the company, and I couldn't use my degree (BS, Electrical Engineering).
I jumped. Different state (US) and company. Loved it. 4 1/2 years later, they laid off the entire maintenance department. Went through several jobs until I found one that fit. Been in it for almost 9 years now.
Know what you are good at and what you want to do. Plan on improving your skills. Get yourself a "hook" - if things don't work out, your hook will open doors to another job. Mine was my degree.
Also, if you do jump to another job, plan on getting dirty - jump in with both feet and put everything you've got into it.
Personally, I'm glad I did it. It changed my life and my family's for the better. BUT everyone is different.
So to answer your question "Am I wasting my time?", let me ask you two: Does your drive to work seem a lot longer now than it used to? Do you dread that drive? My answer to both questions was 'yes' - and it still took me about a year to make up my mind.
I hope this helps. Good luck and let all of us know.