Is this sentence OK?

We're on the way right now.

If I say;
If we had left earlier, we wouldn't be stuck in traffic.

Question

Is this sentence OK?

We're on the way right now.

If I say;
If we had left earlier, we wouldn't be stuck in traffic.

Answer

It's perfect

Answer

Good question. Conditionals are fun. Yes, you're right: If we had left earlier, we wouldn't be stuck in traffic. 
One note: Almost 100% of the time, native speakers will contract we + had in their speech. In informal writing, you can put "we'd," but remember that in speech using "we had" would sound unnatural, unless you wanted to emphasize every word for some reason (for example, if you were angry).

Answer

We're on "our" way right now.....would sound more natural...."We're on "the" way... feels like you're talking about literally on(like standing on, etc.) something called "way"...

I hope I'm explaining that well.....for example if I switch "way" you might better understand what I mean....so "We're on the "ship" right now."....."We're on the "bed" right now."

Your second sentence is good though...