In general, in display constructions the end of line marker \\ takes an optional argument specifying extra vertical space that may be added. So you can write
\\[1ex]
instead of just \\ to get one ex of extra space. Adding this to your code for each line removes the crampedness. However, you are using the wrong environment for a multiline display. matrix is for ordinary matrices with equally spaced entries. You should be using environments from the amsmath package or the superset mathtools. In this case a split inside an equation is most appropriate.
The document below contains four equations. The first with roughly your original coding, very cramped. The second with your coding with \\[1ex] added, this is better vertical spacing but the mathematics is still typeset in a too compact style on each line, and placement of the inequality signs is not good. The third gives a standard split inside equation and I have used mathtools' command \MoveEqLeft to get good positioning of the first line. The final equation is the equation+split with extra vertical spacing, which should not really be necessary any more.

\documentclass{article}
\usepackage{mathtools}
\begin{document}
\begin{equation}\label{(4.51)}
\begin{matrix}
&&\langle g(x_m(\tau_m(t)),u_m(\tau_m(t)) ) -g(x^{i+1}_m,u^{i+1}_m),
y^n_m(t)- x_m(\tau_m(t))\rangle \\
&\leq & L' \|x_m(\tau_m(t))-x^{i+1}_m \| \| y^n_m(t)-x_m(\tau_m(t)) \| \\
&\leq & L' K \frac{T}{m} \| y^n_m(t)-x_m(\tau_m(t))\| \\
&\leq & L' 3K^2 \frac{T}{m} \\
&\leq &\frac{C_3}{m},
\end{matrix}
\end{equation}
\begin{equation}\label{eq:orig-spaced}
\begin{matrix}
&&\langle g(x_m(\tau_m(t)),u_m(\tau_m(t)) ) -g(x^{i+1}_m,u^{i+1}_m),
y^n_m(t)- x_m(\tau_m(t))\rangle \\[1ex]
&\leq & L' \|x_m(\tau_m(t))-x^{i+1}_m \| \| y^n_m(t)-x_m(\tau_m(t)) \| \\[1ex]
&\leq & L' K \frac{T}{m} \| y^n_m(t)-x_m(\tau_m(t))\| \\[1ex]
&\leq & L' 3K^2 \frac{T}{m} \\[1ex]
&\leq &\frac{C_3}{m},
\end{matrix}
\end{equation}
\begin{equation}\label{eq:split}
\begin{split}
\MoveEqLeft
\langle g(x_m(\tau_m(t)),u_m(\tau_m(t)) ) -g(x^{i+1}_m,u^{i+1}_m),
y^n_m(t)- x_m(\tau_m(t))\rangle \\
&\leq L' \|x_m(\tau_m(t))-x^{i+1}_m \| \| y^n_m(t)-x_m(\tau_m(t)) \| \\
&\leq L' K \frac{T}{m} \| y^n_m(t)-x_m(\tau_m(t))\| \\
&\leq L' 3K^2 \frac{T}{m} \\
&\leq \frac{C_3}{m},
\end{split}
\end{equation}
\begin{equation}\label{eq:space}
\begin{split}
\MoveEqLeft
\langle g(x_m(\tau_m(t)),u_m(\tau_m(t)) ) -g(x^{i+1}_m,u^{i+1}_m),
y^n_m(t)- x_m(\tau_m(t))\rangle \\[1ex]
&\leq L' \|x_m(\tau_m(t))-x^{i+1}_m \| \| y^n_m(t)-x_m(\tau_m(t)) \| \\[1ex]
&\leq L' K \frac{T}{m} \| y^n_m(t)-x_m(\tau_m(t))\| \\[1ex]
&\leq L' 3K^2 \frac{T}{m} \\
&\leq \frac{C_3}{m},
\end{split}
\end{equation}
\end{document}
\documentclass, includes all relevant\usepackagecommands, ends with\end{document}and compiles without errors, even if it does not produce your desired output. – Sandy G Nov 29 '17 at 03:14