windows live photo acquisition wizard has stopped working error message

Yes those error messages really don't give any hints as to what the problem is.. These are usually because windows doesn't know.
Just a thought, if your iPhone is running low on battery windows Live acquisition wizard may encounter a problem and for safety stop the transfer.
Are there lots of images?
You may have to wait a little for everything to update and catchup?
Could you have a look at your reliability monitor for any errors.
type into your search reli then wait a sec it will appear at the top click on that you'll get a graph with any errors  reported over a period of time, click on any errors for more info.
How do you connect your iphone to your windows? Is it a laptop or desktop?
windows 7 or windows 8?
Laptop on battery only no ac?
Can you transfer from USB folder?
See how to manually transfer iPhone pictures to computer (Windows 7)
http://www.tech-recipes.com/rx/6239/how-do-i-transfer-pictures-and-videos-from-iphone-to-windows-7/

Sorry for delay, been sick.
I have Windows 8.1 on compaq laptop.  I have uninstalled live essentials and installed windows media player.  Tries to create libraries of pics/videos/music but just keeps crashing!!!!!!!!

Any crash errors we can see?

When I plug my iphone 5 into laptop and try to import new pictures and videos i get the following message. "windows live photo acquisition wizard has stopped working".  I have to close the program.

Ok that doesn't give me anything to work with as I cant see your device.
Or have a look through any error?
The error message with any information can help such as the reliability monitor or events errors?
Have a look in control panel administrative tools events errors applications or under windows
https://www.winhelp.us/event-viewer-in-windows.html
How to use the Event Viewer to troubleshoot issues in Windows 8.1
( video) https://www.youtube.com/watch?v=1s26iBkQhRk
try these
Resolving Problems with Windows Live Photo Gallery
http://www.brighthub.com/computing/windows-platform/articles/104962.aspx

Faulting application name: PhotosApp.exe, version: 6.3.9600.17418, time stamp: 0x5458237f
Faulting module name: mfmp4srcsnk.dll, version: 12.0.9600.17483, time stamp: 0x545c1ca3
Exception code: 0xc0000094
Fault offset: 0x00000000000aaedf
Faulting process ID: 0x1480
Faulting application start time: 0x01d06592f3d0487b
Faulting application path: C:\WINDOWS\FileManager\PhotosApp.exe
Faulting module path: C:\WINDOWS\System32\mfmp4srcsnk.dll
Report ID: 7c4f2759-d186-11e4-bf0b-28924a2488a5
Faulting package full name: FileManager_6.3.9600.16384_neutral_neutral_cw5n1h2txyewy

Thanks Kevin
option one
 run this fixit tool, it downloads to your download folder open that and run it.
run app troubleshooter to fix the corrupted app. To run the automatic fixit you can click on the below link
http://download.microsoft.com/download/F/2/4/F24D0C03-4181-4E5B-A23B-5C3A6B5974E3/apps.diagcab
Option two,
To refresh your Windows 8.x system, go to Settings > Update and Recovery > Recovery. Then under "Refresh your PC without affecting your files," click the Get started button.
How to give your Windows 8 PC a clean start with PC Refresh
http://www.gizmag.com/how-to-windows-8-pc-refresh-reset/32801/
Everything you need to know about refreshing your windows
http://www.howtogeek.com/132428/everything-you-need-to-know-about-refreshing-and-resetting-your-windows-8-pc/

Refresh seems a bit of an extreme measure and a pain.  All i'm trying to do is upload pictures from iphone to laptop!?

In this situation, maybe you could upload a  dr.fone-Transfer. Because I'm using this and it helped me a lot: https://ios-data-recovery.com/transfer-photo-from-iphone-to-computer/