What would happen if the universe began contracting instead of expanding?

The distances between stellar objects would get less is all.. eventually in 14 billion years the universe would become a singularity (again?). However, the preponderance of evidence to date, based on measurements of the rate of expansion and mass density, favors a universe that will continue to expand indefinitely, resulting in the "big freeze" scenario where the distances become increasingly vast until the heat death of the universe and a cold empty dead space is all that remains, total entropy and no energy.