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Yes, staining or sealing a cedar deck or fence is highly recommended to extend its lifespan, typically by five to 10 years. While cedar is naturally resistant to mold and mildew, it can still fall victim to moisture, sun exposure, and rot over time. Applying a treatment creates a protective shield that helps prevent splintering, fading, and decay, preserving the wood's strength and appearance. A combination stain and sealer often provides the best protection, as it soaks into the wood grain rather than just sitting on top. This offers superior defense against UV damage and rot and lasts longer than a sealer alone. To maintain the wood's natural look, consider using a near-translucent stain. You should plan to reapply the stain or sealer every two to three years.

The longevity of paint on wood depends on factors like the quality of the paint, surface preparation, exposure to elements, and maintenance. Exterior paint on wood surfaces can last 5 to 15 years or more with proper care and maintenance. Interior paint tends to have a longer life span, often 10 years or more. Regular cleaning, touch-ups, and addressing any issues like peeling or cracking can extend the life of the paint. 

Adding a second coat of stain to wood can even out the color to some extent, but it won't drastically alter the hue if the initial application is too light or too dark. It's more effective at enhancing the richness of the color rather than significantly changing it. Ensure the first coat is dry before applying the second.

Paint your fence, install customized fence slats, or attach a bamboo screen for a more appealing yard aesthetic. Paint can give your yard a unique and fun look, and adding fence slats gives you a classic fence appearance. Bamboo screens are probably the most unique option that can add a fun vibe to your space.