I really don't think fertilizer or iron is going to help at all right now, Corey. What do you think, Sue? Don't forget the guy at the fertilizer store is in the business to sell you fertilizer, not give you good advice.
Mulch, though, is probably a very good idea to keep the soil cooler. Even if you have to remove the trees, having mulch there will help whatever new trees you plant to get going.
Just please PLEASE don't drive any more tractors or trucks over the roots of those trees! If you need to aerate the soil more, use a digging fork and do it by hand. Carefully!