I've had success with this:
1) clone the track and pan each instance fairly hard in opposite direction
2) apply no compression to one side and a fair amount to the other
3) send both to a bus where you adjust the desired instrument EQ
Adjust to your liking and this creates a rocking back-and-forth sensation, where the quiet moments are only captured in the compressed track, whereas the louder moments really shine on the uncompressed. I used as the concept behind a track on one of my albums, but applied the technique to the entire song (because it was a single-mic single-take demo-style recording) and think it works:
https://smaltmine.bandcamp.com/track/oh-the-places-youll-go-demo This works best with dynamic, down-to-mid-tempo material, not really as much for louder or faster parts...