Depressing rhymes with:
compressing, expressing, impressing, oppressing, pressing, repressing, suppressing, addressing, compressing, digressing, distressing, dressing, expressing, impressing, oppressing, pressing, progressing, redressing, repressing, stressing, suppressing, transgressing
Depressing sounds like:
depressions, divergence, divergences, diverging, diversions, divorcing, dobrzynski