Baggy layers are fashion's cruel trick. While you might think that hiding under baggy layers will make you smaller, all that volume will actually make you look larger.
Meryl Streep, who is actually quite svelte, fell trap to the lure of baggy layers in the form of an oversized coat over a long unfitted dress. Instead of creating long, elegant lines, all that fabric overwhelms her average-height frame (most sources put her at about 5'6".)
While taller women can sometimes look regal in voluminous layers, those of us under 5' 9" can get lost in the extra fabric.
If you are trying to hide extra weight (and that's probably not what Meryl Streep was trying to do) a better way to do it would be to accentuate the positive. A pretty neckline, interesting shoulder detail or close-to-the-face color will draw the eye up and away from trouble spots.
More looks to avoid: