Single crystals of Cr$_2$Ge$_2$Te$_6$ were studied by high-resolution capacitance dilatometry to obtain in-plane ($B\parallel ab$) and out-of-plane ($B\parallel c$) thermal expansion and magnetostriction at temperatures between 2 and 300 K and in magnetic fields up to 15 T. The anomalies in both response functions lead to the 'magnetoelastic' phase diagrams and separate the paramagnetic (PM), ferromagnetic low-temperature/low-field (LTF) and aligned ferromagnetic (FM) phases. The presence of two distinct thermal expansion anomalies at small fields $B\parallel ab$ of different magnetic field dependence clearly supports the scenario of an intermediate region separating PM and LTF phases and is indicative of a tricritical point. Simulations of the magnetostriction using the Stoner-Wohlfarth model for uniaxial anisotropy demonstrate that the observed quadratic-in-field behavior in the LTF phase is in line with a rotation of the spins from the preferred $c$ direction into the $ab$ plane. Both the LTF and the PM phase close to T$_{\rm C}$ exhibit very strong pressure dependencies of the magnetization, ${\partial}\ln{M_{\rm ab}}/{\partial}p_{\rm ab}$, of several hundred %/GPa and also the transition from the LTF to the FM phase strongly depends on $p_{\rm ab}$ ($\sim -$280%/GPa), indicating a strong decrease of the uniaxial anisotropy under applied in-plane pressure. Our data clearly demonstrate the relevance of critical fluctuations and magnetoelastic coupling in Cr$_2$Ge$_2$Te$_6$.