If socks are not stretched out while drying they might shrink.
Stretchers like the ones I sell below, is the best way of keeping socks and stockings the right size and shape after washing. Having holes in the blocker helps air circulate and is so much better for drying. The flat wooden legs, clad in wooly socks, are hanged from outdoor clothesline or given a place to dry indoors.
You will need to re-oil them after some time depending on the usage they get. A good vegetable oil is best, just rub oil all over blocker and leave for a couple of hours then wipe of excess.