Rods and reels are a matter of personal preference - in almost every aspect. What works well for one person will be "junk" in another persons hands.
With that said, before you go running out to buy a new rod - the number one question I have to ask is:
1) HOW SHARP ARE YOUR HOOKS???
Without sharp hooks, even the best rod will not get a good hookset. Hooks are another matter of personal preference, but my favorites across the board are Mustad Needle Point hooks. Gamakatsu's run a close second, followed by Owner (except for their frog hook - which is on the top of my list), and then it falls off drastically from there. I mean nobody any offense if they fish with other hooks than those mentioned, but I have found (in that order) that those work best for me.
Number 2 question - What kind of hook set do you have? If it's a soft hookset, or something with no "umph!" in it, that may be part of your problem. My wife fishes with Shakespeare Ugly Stiks - probably the most versitile, inexpensive rod on the market. However, the limber tip used to give her fits on the hookset with a worm. I told her to "cross their eyes" on the hookset - meaning to give it all she had. She did, and the lost fish count went WAY down. She sets the hook so hard now, I almost go off the other side of the boat. :lol:
Number 3 - again - personal preference item - why are you fishing worms with 10 lb test and a spinning rod? I seldom ever use that setup for texas rigged worms, unless I'm doing a lot of skipping under docks - but that is with a 5'9" MH spinning rod. Most of my worm fishing is done with a baitcaster setup - 6'6" MH rod with a good 6.3:1 reel and 14lb test at a minimum most of the time. Not to say that spinning gear won't work for this purpose, but for the areas I fish, the only time I'd use a setup like you described is for wacky-rigging Senko's.
If your hooks are sharp (and I mean "sticky" sharp), your hookset is good, and you prefer spinning gear and still want a new rod, then yes - I'd suggest checking out a 6'3" to 6''6" MH spinning rod. Otherwise, I'd work on some of the above mentioned items and watch your catch ratio go up.
All the best,
Glenn