This paper presents a search for new particles in events with one lepton (electron or muon) and missing transverse momentum using 20.3 $fb^{-1}$ of proton-proton collision data at $\sqrt{s}=8$ TeV recorded by the ATLAS experiment at the Large Hadron Collider. No significant excess beyond Standard Model expectations is observed. A $W'$ with Sequential Standard Model couplings is excluded at the 95% confidence level for masses up to 3.24 TeV. Excited chiral bosons ($W^{*}$) with equivalent coupling strengths are excluded for masses up to 3.21 TeV. In the framework of an effective field theory limits are also set on the dark matter-nucleon scattering cross-section as well as the mass scale $M_{*}$ of the unknown mediating interaction for dark matter pair production in association with a leptonically decaying $W$.