A patch to correct for this behaviour is provided by the etoolbox package. The default \chapter inserts a 10pt vertical gap between chapter breaks in the LoF and LoT. Merely add a similar gap as part of the macro \@chapter to the LoA:

\documentclass[12pt]{book}
\usepackage{etoolbox}
\makeatletter
\patchcmd{\@chapter}% <cmd>
{\chaptermark{#1}}% <search>
{\chaptermark{#1}%
\addtocontents{loa}{\protect\addvspace{10\p@}}}% replace
{}{}% <success><failure>
\makeatother
\usepackage[chapter]{algorithm}% http://ctan.org/pkg/algorithms
\begin{document}
\tableofcontents
\listofalgorithms
\chapter{A chapter}
\begin{algorithm}\caption{An algorithm}\end{algorithm}
\begin{algorithm}\caption{An algorithm}\end{algorithm}
\chapter{A chapter}
\begin{algorithm}\caption{An algorithm}\end{algorithm}
\begin{algorithm}\caption{An algorithm}\end{algorithm}
\end{document}
The original \@chapter command contains:
%...
\chaptermark{#1}%
\addtocontents{lof}{\protect\addvspace{10\p@}}%
\addtocontents{lot}{\protect\addvspace{10\p@}}%
%...
The \patchcmd searches for \chaptermark{#1} in \@chapter and replaces it with
\chaptermark{#1}%
\addtocontents{loa}{\protect\addvspace{10\p@}}%
effectively inserting the necessary chapter-wise gap in the LoA.
Make sure to load any package that affects the sectional unit \chapter after performing this patch. This is especially true if you use hyperref and minitoc. Other sectional packages like titlesec would not be compatible with the above patch.