Hmmm...it's not as straightforward as it used to be. Maybe I'm overlooking something, but here's how you can do it:
1. Click your username on the top-right and select "My Settings";
2. Under the "My Settings" header, you'll see that "Settings" is highlighted. Next to it, there's "Gallery" in grey. Click it.
3. There you can create a new album or select an existing one;
3.1 In case of a new album, don't forget to select the correct parent album first. You also have to upload ("Choose Files") at least one picture, this will also be the default "cover" image (that you can change later). Once the picture is uploaded, click "Review & Publish". You can now add a description, tags etc. for the uploaded picture. Click "Finish & Publish" when you're done;
3.2 In case of an existing album, you can just select the album and upload pictures.
Once you have created an album, you can also access it by clicking your username and selecting "My Profile". Then select "Gallery" from the menu on the left.
Good luck!