I honestly would NOT change your CPU without buying a new Motherboard.
That CPU you said you wanted to change to, Is supported on your motherboard. But, I wouldn't trust it to get ideal performance on that motherboard.
Here's my recommendation. Since you are on a platform right now with DDR4 RAM, Ryzen is a great upgrade path for those looking for a Cheap solution that gets comparable performance to a more expensive Intel solution.
PCPartPicker part list /
Price breakdown by merchant
CPU: AMD - Ryzen 5 2600 3.4GHz 6-Core Processor ($164.99 @ Amazon)
Motherboard: MSI - B450M BAZOOKA Micro ATX AM4 Motherboard ($74.99 @ Amazon)
Total: $239.98
Prices include shipping, taxes, and discounts when available
Generated by PCPartPicker 2018-09-16 20:20 EDT-0400
This is a cheaper solution and will have more reliable performance than simply swapping your current CPU for a 300 dollar i7. You will get similar performance to the i7, and you will have more Cores and Threads.
You COULD just slap an i7 into the system, and with the (more than likely stock cooler) same setup get a decent performance increase. But your Motherboard would more than likely choke out the i7's full performance.