No, that is not true, and there are several similar (and standard) examples. For one, let $Y$ be $\text{Spec}(k)$, let $X$ be an elliptic curve over $k$ (there are many other varieties one could use), let $f$ be the unique $k$-morphism, let $\mathcal{L}$ be an invertible sheaf on $X$ that is algebraically equivalent to $0$ but not torsion, and let $\mathcal{M}$ be an invertible sheaf of positive degree. Let $\mathcal{E}$ be $\mathcal{L}\oplus \mathcal{M}$, and let $\mathcal{A}$ be the symmetric algebra, $\text{Sym}^{\bullet}_{\mathcal{O}_X}(\mathcal{E})$. Thus, we have a direct sum decomposition,
$$
\mathcal{A}_n = \text{Sym}^n_{\mathcal{O}_X}(\mathcal{L}\oplus \mathcal{M}) = \bigoplus_{l,m\geq 0, \ l+m=n} \left(\mathcal{L}^{\otimes l}\otimes_{\mathcal{O}_X} \mathcal{M}^{\otimes m}\right).
$$
As is evident from this decomposition, $\mathcal{A}$ is actually $\mathbb{Z}_{\geq 0} \times \mathbb{Z}_{\geq 0}$-graded; the decomposition is,
$$
\mathcal{A} = \bigoplus_{l,m\geq 0} \mathcal{A}_{l,m}, \ \
\mathcal{A}_{l,m} = \mathcal{L}^{\otimes l}\otimes_{\mathcal{O}_X} \mathcal{M}^{\otimes m}.
$$
Since cohomology commutes with direct sum of coherent sheaves on a Noetherian scheme, we have a $\mathbb{Z}_{\geq 0}\times \mathbb{Z}_{\geq 0}$-grading of the corresponding algebra of global sections,
$$
H^0(X,\mathcal{A}) = \bigoplus_{l,m\geq 0} H^0(X,\mathcal{A}_{l,m}), \ \
H^0(X,\mathcal{A}_{l,m}) = H^0(X,\mathcal{L}^{\otimes l}\otimes_{\mathcal{O}_X} \mathcal{M}^{\otimes m}).
$$
Using Riemann-Roch and the hypotheses on $\mathcal{L}$ and $\mathcal{M}$, the graded piece $H^0(X,\mathcal{A}_{l,m})$ is nonzero if and only if either $(l,m) = (0,0)$ or $m>0$. In particular, this gives a subsemigroup of $\mathbb{Z}_{\geq 0} \times \mathbb{Z}_{\geq 0}$ that is not finitely generated as a subsemigroup. Therefore $H^0(X,\mathcal{A})$ cannot be finitely generated as a graded $k$-algebra.
Edit. Probably this example has appeared previously on MathOverflow -- it is a standard example. There are other examples with various other interesting features.