The way it sounds is because of how the device works; it makes a buzz that replaces the vibrations that would normally be created by air passing through your larynx. But the buzz is at a fixed frequency while human voices vary in frequency – especially in certain languages.
An electrolarynx that sounds less monotone would need to have some way to change the frequency it produces to match the natural ups-and-downs of human speech. There are some devices on the market that claim to do this, like this one:
http://www.griffinlab.com/Products/TruTone-Electrolarynx.html
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