I've been trying to look into caching a couple of pages within Apex 4.2, but the information I have found has been vague on how to actually implement it.
I enabled caching on my page attributes but I expected to be able to see the page cache details in the 'caching' page under the App Builder utilities, which I did not. This seems to indicate to me that it isn't caching the page at all.
Is this the case?
You need to enable caching on the application level in your application builder click on the Edit Application Properties Button. Then go to the security tab and scroll down to Browser Security Section, there set cache to enabled.