This is a late answer. Starting from SQLIte 3.24.0, released on June 4, 2018, there is finally a support for UPSERT clause following PostgreSQL syntax.
INSERT INTO players (user_name, age)
VALUES('steven', 32)
ON CONFLICT(user_name)
DO UPDATE SET age=excluded.age;
Note: For those having to use a version of SQLite earlier than 3.24.0, please reference this answer below (posted by me, @MarqueIV).
However if you do have the option to upgrade, you are strongly encouraged to do so as unlike my solution, the one posted here achieves the desired behavior in a single statement. Plus you get all the other features, improvements and bug fixes that usually come with a more recent release.