It has never been easier to create vhost or upgrade php versions even add a different mysql version

Lets deal with vhost

1. Start localhost there is a link at the bottom that says create virtual host
2. Click on that link you will then be presented with a screen like the one below
3. 
4. Fill in the required fields
5. Press start the creation

When this is done you will need to restart the dns by left clicking the wamp server icon select tools then restart dns
Thats all you need to do as it also modifies the hosts file in the system32/drivers/etc
If you you are running wamp server 3.1.0 or under you will need to upgrade to 3.1.1 a link is here
You will also see the various upgrade options such as php version Mysql and MariaDb it is then just a matter of downloading the package you want an run the .exe file thats it job done