I have built stunnel (version 4.05) for the OpenWRT environment and created an ipkg for it in my repository http://www.cobb.uk.net/openwrt/. It is dependent on libssl (available from ab0oo) and libpthread (available from ab0oo or Nico). As usual, I have left out all the documentation -- see the FAQ and examples on http://www.stunnel.org/.
Use stunnel -version to see the compiled-in defaults and take a look at the example stunnel.conf in /etc/stunnel/stunnel.conf-sample to see the configuration options I recommend. Note that I do not use chroot mode -- there is no good directory in the OpenWRT filesystems to chroot to where it can both write a .pid file and have access to certificates and other long term data. If you set uid and gid to -2, as I do, you will need to change the protection on the /tmp directory (use chmod o+wt /tmp).
It works for me (in client mode, for my particular requirement). I haven't tested other uses but let me know if it does not work for you.
Many thanks to Nico and ab0oo as well as to the stunnel folks for making it fairly straightforward to port.
Graham Cobb