I'm certainly not an expert on felting ... but I do know that acrylic does NOT felt. So if the yarn is 80% acrylic, I would say that it wouldn't be a good choice for a project that you want to felt.
Choose a yarn that is 100% wool (but not superwash) ... if you check out yarns online, often the product descriptions will indicate if the yarn is suitable for felting. Other than that, perhaps some of the others here will be able to make more specific yarn suggestions for you! :knitting: