Stewart, who made 33 appearances for the Ibrox club, heavily criticised Martin when recently speaking to RecordSport.
The boss has spearheaded one of Rangers' poorest starts to a season in history.
They have amassed just four points from their opening five league games and crashed out of the Champions League play-offs 9-1 on aggregate to Club Brugge.
"I'm seeing a team here that are making X amount of passes at the back," said Stewart. "I've never seen a game of football where the centre-halves and the goalkeeper are having more touches than attacking players.
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"Who's the best striker in the world? Erling Haaland. He’d struggle in this team because there's no service to the striker. Bojan Miovski has [been] doing absolutely nothing in his two games so far because he’s getting zero chances.
"For me, if you can pass forward, you need to pass forward.
"But I'm watching this Rangers team go sideways. There’s no options. It looks like four players against 11 when they go forward."
Rangers return to action this Saturday as they take on Hibernian in the quarter-finals of the Premier Sports Cup.