I've solved this problem in another way. You can see my Plunker Demo here. 
 $(document).ready(function() {
  $('#menu-sound').click(function() {
    console.log($('#icon-menu-sound').hasClass('fa-volume-up'));
    if ($('#icon-menu-sound').hasClass('fa-volume-up')) {
      $('#icon-menu-sound').removeClass('fa-volume-up');
      $('#icon-menu-sound').addClass('fa-volume-off');
    } else if ($('#icon-menu-sound').hasClass('fa-volume-off')) {
      $('#icon-menu-sound').removeClass('fa-volume-off');
      $('#icon-menu-sound').addClass('fa-volume-up');
    }
  });
});
I've changed the HTML a bit
<div class="container">
<button id="menu-sound" class="btn video-icon">
<i id='icon-menu-sound' class="fa fa-volume-up"></i>
</button>