Often times i look to see my dog or my cat staring at nothing,does anyone think they could possibly be looking at something paranormal?

Mine does exaclty the same thing, I think animals generally stare into space when ever they hear or get a flash of something in their eye, I know theres nothing in my house which has made me come to this conclusion, that they can just stare into space as if waiting for the sound again.

But yeah there is also the possibility your dog is seeing a spirit of some sort.

I agree. More likely than not, its a noise we cant hear ourselves. But i do believe animals posses the ability to sense and see spiritual things.