We introduce and study the homotopy theory of motivic spaces and spectra parametrized by quotient stacks [X/G], where G is a linearly reductive linear algebraic group. We extend to this equivariant setting the main foundational results of motivic homotopy theory: the (unstable) purity and gluing theorems of Morel and Voevodsky and the (stable) ambidexterity theorem of Ayoub. Our proof of the latter is different than Ayoubs and is of interest even when G is trivial. Using these results, we construct a formalism of six operations for equivariant motivic spectra, and we deduce that any cohomology theory for G-schemes that is represented by an absolute motivic spectrum satisfies descent for the cdh topology.