Error "Microsoft Excel cannot open or save any more documents because there is not enough available memory or disk space" while creating new document in published  Excel 2013.`

1. In UPM Policies, add the "AppData\Local\Microsoft\Windows\InetCache" to the "Files to synchronize" list. However the InetCache can contain a lot of files which might use a lot of disk space, here again we can add the path "AppData\Local\Microsoft\Windows\InetCache\*.*" to "Files to Exclude" list.
2. If the above option is not acceptable, then the only option is to create a script at the user logon to create a directory "InetCache" inside "AppData\Local\Microsoft\Windows"
3. Also try upgrading the UPM to 5.4 and test.

Problem Cause

This a generic error thrown by the Excel might be due to the below reasons:

1. No Virtual memory or disk space, or lack of permissions to any cache folder.
2. Dcom permission issues.
3. Unable to create Streaming or Internet cache files.