Good question - that's expected behavior today. "Merge when ready" works per PR, so each one enters the queue as soon as it's individually ready rather than waiting for the rest of the stack.
If you want the whole stack to enter together (and share one CI validation), the workaround is to wait until the full stack is green and approved, then click Merge from the top PR - that enqueues the entire stack as a single entry.
A "wait until the whole stack is ready" option is something we have a feature request open for, and I've added your report to it. Can't promise a timeline, but it's on the team's radar.