Yes. both are interchangeable to use in the specific situation.
* 물건 is the same as 'thing(s)' and 'matter', both of which have physical forms.
If you want to express 'matter' such as 'what's the matter?', use '일', '문제(problem)'
* 사물 has the meaning of '물건', but sounds more formal. Yes, that's not used in colloquially, but in the field of law and philosophy.
Unfortunately, there's no the perfect synonym for the word 'object' since it's sometimes used for goal(목표) or target(대상).
So, It's difficult for translator to translate 'object':
In philosophy, object is the same as '객체', in computer science, 오브젝트... and so on.