sp77,
We see stacks all the time- it has nothing special to do with water. Stacking exchangers conserves plot space and piping.
In the case of U-tube exchangers, which are not countercurrent flow unless an F shell is used, multiple shells are required in cases of temperature cross- the number of shells depends on the degree of temperature cross and the approach desired. The AEU exchanger is one of the cheapest exchangers to build because there is only one tubesheet and body flange so you frequently see these stacked.
best wishes,
sshep