If your purpose is the isolation, I think Docker is what you need.
Vagrant is a virtual machine manager. It allows you to script the virtual machine configuration as well as the provisioning. However, it is still a virtual machine depending on VirtualBox (or others) with a huge overhead. It requires you to have a hard drive file that can be huge, it takes a lot of ram, and performance may be not very good.
Docker on the other hand uses kernel cgroup and namespacing via LXC. It means that you are using the same kernel as the host and the same file system. You can use Dockerfile with the docker build command in order to handle the provisioning and configuration of your container. You have an example at docs.docker.com on how to make your Dockerfile; it is very intuitive.
The only reason you could want to use Vagrant is if you need to do BSD, Windows or other non-Linux development on your Ubuntu box. Otherwise, go for Docker