A temporal graph is an undirected graph $G=(V,E)$ along with a function that assigns a time-label to each edge in $E$. A path in $G$ with non-decreasing time-labels is called temporal path and the distance from $u$ to $v$ is the minimum length (i.e., the number of edges) of a temporal path from $u$ to $v$. A temporal $α$-spanner of $G$ is a (temporal) subgraph $H$ that preserves the distances between any pair of vertices in $V$, up to a multiplicative stretch factor of $α$. The size of $H$ is the number of its edges. In this work we study the size-stretch trade-offs of temporal spanners. We show that temporal cliques always admit a temporal $(2k-1)-$spanner with $\tilde{O}(kn^{1+\frac{1}{k}})$ edges, where $k>1$ is an integer parameter of choice. Choosing $k=\lfloor\log n\rfloor$, we obtain a temporal $O(\log n)$-spanner with $\tilde{O}(n)$ edges that has almost the same size (up to logarithmic factors) as the temporal spanner in [Casteigts et al., JCSS 2021] which only preserves temporal connectivity. We then consider general temporal graphs. Since $Ω(n^2)$ edges might be needed by any connectivity-preserving temporal subgraph [Axiotis et al., ICALP'16], we focus on approximating distances from a single source. We show that $\tilde{O}(n/\log(1+\varepsilon))$ edges suffice to obtain a stretch of $(1+\varepsilon)$, for any small $\varepsilon>0$. This result is essentially tight since there are temporal graphs for which any temporal subgraph preserving exact distances from a single-source must use $Ω(n^2)$ edges. We extend our analysis to prove an upper bound of $\tilde{O}(n^2/β)$ on the size of any temporal $β$-additive spanner, which is tight up to polylogarithmic factors. Finally, we investigate how the lifetime of $G$, i.e., the number of its distinct time-labels, affects the trade-off between the size and the stretch of a temporal spanner.