Sounds like he's doing fine to me! I don't remember exactly how many at 14 months (it's been so long), but many kids are barely speaking at just over a year. And he's at the age where he may just be focusing on something else for now, and his vocabulary could massively expand all at once in the next few months. Does he seem to understand a lot of what you say (for example, you say "milk" or "bed" or "bye-bye" and he knows what your talking about) - that may be a better indication right now (kids learning language will understand looooooong before they produce, it's normal).
Also, listen to him when he babbles. He may be saying some words unclearly that you just aren't recognizing yet. As long as it is remotely close and he seems to use it consistently for the idea, it counts, even if it's not really pronounced correctly.