Can an older Sony or Pioneer CD changer sound better with a budget DAC?

So just wondering?? If I took an older Pioneer or Sony CD changer, like the carousel type (circa1996) and connected via optical SPDF cable to a budget DAC, say the Fiio D03k... can the CD player sound better? Has anyone tried this? 
I have an older Sony ES CD player that I have connected to a highly regarded Benchmark DAC with great results. Not sure how far the budget DAC class has come??