Querying all taxonomies for all post types

gistfile1.php

<?php 

function agency_wp_test() {
	$post_types = get_post_types(); 

	foreach ( $post_types as $post_type ) {
		$taxonomy_names = get_object_taxonomies( $post_type );
	    $terms = get_terms( $taxonomy_names, array( 'hide_empty' => false ));
	     if ( ! empty( $terms ) && ! is_wp_error( $terms ) ){
	         echo '<h5>'.$post_type.'</h5>';
	         echo '<ul>';
	         foreach ( $terms as $term ) {
	           echo '<li>' . $term->name . '</li>';

	        }
	  		echo '</ul>';
    	}
    }
}