It seems to have been named as such historically since it was (in part) an extension of infinitessimal calculus, and by analogy to other branches of mathematics also named calculuses (c.f. calculus of variations):
The somewhat vague denomination of "functional calculus," "calculus of functions" would include the whole of analysis ; and indeed the functional calculus is essentially a generalization and an examination of the principles of classical analysis. ...
The ideas with which we are now about to deal are really the ideas at the very base of the infinitesimal calculus. ...
In a daring generalization, Volterra extended to the functions of lines the fundamental notions of the infinitesimal calculus: continuity, derivative, differential, develop
ment in series of power, analyticity.