1. A method for executing a multi-tenant distributed computing application within a virtualized computing environment, the method comprising: receiving cluster-related metrics from a plurality of compute clusters executing in a virtualized computing environment, wherein each compute cluster includes a workload scheduler and a plurality of worker nodes; receiving resource-related metrics associated with performance of the virtualized computing environment, wherein the resource-related metrics comprise at least one of memory-related metrics and CPU-related metrics; determining a state of resource contention among the plurality of compute clusters for computing resources of a host based on the received cluster-related metrics and resource-related metrics; responsive to determining the state of resource contention, shrinking at least one of the plurality of compute clusters executing, at least in part, on the host; and responsive to determining resource contention does not exist on the host, expanding at least one of the plurality of compute clusters executing, at least in part, on the host and having pending work.