When we praise God, we express truths that bind the soul in grace and love. It aligns our souls with the reality of God's greatness and our unworthiness in the face of his majesty. Praising God is good for the soul, not just the thing we ought to do. Furthermore, when we sing our praises, something Martin Luther commended, we don't just express joy, we find it.
As I've often said, praising God is good, right and salutary!