An image-based deep learning framework is developed in this paper to predict damage and failure in microstructure-dependent composite materials. The work is motivated by the complexity and computational cost of high-fidelity simulations of such materials. The proposed deep learning framework predicts the post-failure full-field stress distribution and crack pattern in two-dimensional representations of the composites based on the geometry of microstructures. The material of interest is selected to be a high-performance unidirectional carbon fiber-reinforced polymer composite. The deep learning framework contains two stacked fully-convolutional networks, namely, Generator 1 and Generator 2, trained sequentially. First, Generator 1 learns to translate the microstructural geometry to the full-field post-failure stress distribution. Then, Generator 2 learns to translate the output of Generator 1 to the failure pattern. A physics-informed loss function is also designed and incorporated to further improve the performance of the proposed framework and facilitate the validation process. In order to provide a sufficiently large data set for training and validating the deep learning framework, 4500 microstructural representations are synthetically generated and simulated in an efficient finite element framework. It is shown that the proposed deep learning approach can effectively predict the composites' post-failure full-field stress