Chelsea might not win a trophy this season. That's obviously not great, but according to Petr Cech 2013/14 should be considered a success no matter what happens in the next month:
We have made progress even if there are no trophies at the end to show for it. We have been looking for stability and in the last few seasons we have had a lot of changes of manager. It’s really important to start with one manager and end it with the same one. Now next season we can make an even bigger step forward.
-Source: London Evening Standard.
I happen to agree with Petr. With the League Cup and the FA Cup shiny distractions from the real prizes, I'm not particularly concerned that we didn't make a serious run in either competition -- what I wanted this year was to be competitive in both the Premier League and the Champions League. And while the title chase looks over with three games to play, we were in the mix for most of the year and are still in with a very decent shout of contesting the European Cup at the end of May.
We're not always going to win trophies, but the progress made in the last twelve months is impressive. The team will be improved next season by virtue of the summer transfer window and development of the youngsters (which is where stability comes in), and it's difficult to deny that the 'transition' we've been subjected to since about October 2010 is now on an upward trajectory.