I've noticed this issue as well, and it is very frustrating. Granted, WiFi sync was never perfect, but normally a bump to AppleMobileDeviceHelper in Activity Monitor and an iTunes restart would solve the problem and all my iOS devices would be "seen" by iTunes and I could sync my merry life away. Not so with iOS 8. I've tried everything I could think of, from DHCP reservations on my wireless router to unchecking "Sync with this device over WiFi" when connected with a lightning cable, syncing, then rechecking the WiFi sync option. These attempts only temporarily fixed the issue with my iPhone 6; the iPhone 5S has never successfully synced via WiFi since the iOS 8 upgrade. All signs seem to point to a problem with either iTunes 11.4 or iOS 8.0.2, or both. Heck, it may even be a problem with Mavericks 10.9.5. Don't know about the rest of you, but the prospect of waiting for Yosemite and iTunes 12 does not make me smile.
I've seen elsewhere in this thread regarding the security enhancements to iOS8 and the withholding of MAC addresses. I would think that WiFi sync requires Bonjour to function - now we are getting into deeper engineering issues, especially if Apple broke it's own communication protocol by enacting better security.
I'm going to try the other proposed solutions on this thread to see if I can limp along until either an iOS or iTunes update, or Yosemite. I'll start with disabling Handoff; then move to resetting network connections.
Cheers everyone!