This is kind of nonsense.
In most current compilers for ALGOL derived imperative programming languages (such as C, Java, C#, Pascal...), it's true, because, TRADITION! But it's not true of the underlying hardware, and it's not true of any compiler which implements its stack as a linked list. In principle there is no reason at all why you should not allocate all your available store to stack. There's also no reason why you cannot dynamically implement your stack in your heap.
These are all language (and run-time) design choices, and just because the people who specified ALGOL in 1958 - when I was three, goddammit - were working on machines which were (by modern standards) desperately poor of both mill and store, doesn't mean that we need to continue to copy the design choices they made then.