Acrylic can melt when you iron it or over steam it. Generally with acrylic you just wash and dry. If you've "killed" the acrylic there is nothing you can do. I usually just wash and dry acrylic, but you might try washing it and laying it out flat to size and see if that helps.
Also.. Wool is an actual fiber so best to call it yarn and name the fiber. It can be confusing.