Phentermine is a sympathomimetic amine with pharmacologic activity similar to amphetamines. Actions include central nervous system stimulation and elevation of blood pressure.
As with other medications in this class mood effects are quite variable. But there are case reports of mania and psychosis, so it probably does have somewhat of a "mood elevating" effect.
Your observation about noticing the change when you stopped the medication could be due to the direct effect (loss of therapeutic effect) but it could also be due to withdrawal effects (all of the medications like phentermine probably cause some degree of brain tolerance - meaning your brain adapts to the medication and when you abruptly stop it you are not going back to the same state you were in before you began treatment, but a state with a lower mood and energy level - it may take a few days before your brain adapts to not having phentermine).
Thank you so much for the input. It does make perfect sense. I feel like I have more energy and able to concentrate much more which I'm sure also makes me feel better.