I would like that. I drive a smaller size hatchback, I dislike that I am surrounded by larger vehicles but also don't want to give in to the trend.
But to move back, the best thing would be to loosen regulation on the smaller class and tighten + enforce for the larger class. Too much time has passed with everyone getting in the larger vehicle arms race for it just to flip back. The manufacturing would also have to gear back up and as we are discovering with the attempt to re-shore, it take time and isn't easy.
Also an additional thought for some of the comments that are talking about the selfishness of those who drive larger vehicles. On one hand it is personally selfish and makes it less safe for pedestrians, bicycles and motorcycles. On the other hand, those people have families and friends. My wife wants me to get a larger car because she is worried I will be killed if there is a traffic accident. I have a duty to help provide for my family and I certainly don't want to die, so doing so would not be an irrational choice.
Similarly to the choice of driving a pickup truck, often it is not needed most of the time. I have a family member who doesn't own a car, which is great! They always talk about the options available (Uber, Rental, etc) but anytime they have to travel to the airport for a business trip, they borrow a car from us or another family member to get there and use the airport parking. Which is fine because collectively we have it available but it can also be a slight inconvenience as well but it is less then them having to deal with Uber/Rental/Public Transit.