As long as you don't have a stereo-typical member of each race banding together in some way to go on a journey, I think you're all set.

This is just a question not sure if it's been answered.

Is it too cliche to have elves, trolls, dwarves, or gnomes in your story?

Or have these types of characters become staple characters in a story?

This is a controversial topic. Some people decide that they can stick with the traditional races, some go for changing them some (like Eleutheria), some make up completely new races (like Neil of Erk). Basically, I think you should take into account all objections and arguments, and then decide what you feel goes best with the world you are creating and the stories you want to write. Neither choice is a bad choice, it simply sends you down a different road.

You can make your Elves and Dwarves bad while your Trolls and Gnomes good. Then it won't be cliche. Joke.

Indeed I could do that...lol...but I am going to challenge myself to creatively come up with my own version if I choose to use elves or dwarves.

My Elves have the ability to control fire, water, air, and earth, depending on the clan they come from. They also can change into the form that they control. My Dwarves are made out of stone, on a certain day they gather around a certain rock and a Dwarf comes out of it.

It really comes back to the plot though. If your focus is world building, you might want to try for uniqueness, but if you just thought of a great story that goes with such creatures, it often times seems less original if you rename the races rather than let them be themselves.