This may be off topic as Wikipedia has a pretty complete article on the Islamic Golden Age.
The short answer is yes, while European nobles were sitting on wooden/stone chairs in cold stone buildings, the Arab nobles were laying on comfortable carpets, living a pretty good life quite similar to the old Roman nobles, enjoying many exotic goods and luxuries. There are records of visiting Europeans being quite impressed by the lavish living conditions of the Arab upper-classes.
Of course, the masses of the people usually didn't have it so good and being part of the lower-classes during that time, whether in Europe or in the Muslim world, probably wouldn't have been as enjoyable.
There were however various public services in the Muslim world, like 24/7 hospitals that at some points were forbidden from turning away patients who could not afford to pay for healthcare. Education was also highly valued and public schools were available, as well as public libraries (the two would have often been combined). Sewers and clean water systems were functioning pretty good, and Muslims washed regularly (something that got adopted only later in Europe) which provided better overall hygiene.
Freedom of expression was also relatively higher (although not in the modern Western sens), and interestingly, many things said and written by Muslims during that era would seem unimaginable and heretic to some Muslims today.
During this period the Arabs made considerable advances in science, education, medicine, philosophy etc, basing themselves on the great works of antiquity. In the mean time European scholars were stuck with a very inflexible Catholic church. Italian merchants eventually brought these advances and "resurrected" ancient texts back to Europe which triggered the Renaissance, which also coincides with the end of the Islamic Golden Age.
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EDIT
What I mean by:
while European nobles were sitting on wooden/stone chairs in cold stone buildings
is that there was a severe drop in the standard of living of European nobles following the fall of the Western Roman Empire. They lost access to many of the luxuries goods from the East and much of the engineering, architectural, philosophical and medical knowledge known to the Romans.
Overall, life would have been more enjoyable in the Muslim world during the European Middle Ages. Assuming of course that you were lucky enough to be born a free man, which applies throughout History.