Heat the olive oil in a large Dutch oven over medium-high heat. Add the mushrooms and cook for 8 minutes, stirring occasionally, until browned and their liquid has cooked off.
Add the onion, carrots, and celery and cook for 5 minutes, until softened. Stir in the garlic and thyme and cook for 1 minute, until fragrant.
Add the barley and stir for 1 minute to toast it lightly.
Pour in the broth and soy sauce. Bring to a boil, then cover, reduce the heat to low, and simmer for 30 minutes, until the barley is tender and the soup has thickened.
Stir in the salt and pepper.
Taste and adjust the seasoning, then ladle into bowls and serve hot.