Unfortunately I'm sorry I can't really answer your question. But I noticed no one had replied to your post. So I thought I would. Perhaps other members, here on PC, may yet see your post & reply with some useful insights.

I was on Effexor twice with very bad results. (I'll spare you the details!) But I don't recall Effexor, or any other antidepressant I took, ever having any significant impact on my sex drive one way or the other. However, I'm an older person now. And my sex drive basically disappeared many years ago... well before I even went on Effexor for the first time.

What occurs to me though, with regard to this, is that depression itself tends to rob a person of their sex drive. So I would presume it would probably be difficult to parse whether what you're experiencing is due to the Effexor you're taking or whether it is a result of your depression itself. It may be though that it is a combination of the two. So talking this over with your doctor is probably the best option.

If you're feeling quite bad, to the point where you think a med. increase may be needed that in-&-of-itself may negatively affect your sex drive. So deciding whether or not to increase the dosage of your Effexor, & risk the possible impact it may have on your sex drive, may be something of a balancing act I would suppose.