It's an interesting question (I've upvoted it), I expect you'll get at least as many opinions as you do responses. Here's my contribution:
What do you want to represent on your diagrams? In OO one answer to that question might be, considering class diagrams, state (or attributes if you prefer) and methods. So, obviously I would suggest, class diagrams are not the right thing to start from since functions have no state and, generally, implement one function (aka method). Do any of the other UML diagrams provide a better starting point for your thinking? The answer is probably yes but you need to consider what you want to show and find that starting point yourself.
Once you've written a (sub-)system in a functional language, then you have a (UML) component to represent on the standard sorts of diagram, but perhaps that is too high-level, too abstract, for you.
When I write functional programs, which is not a lot I admit, I tend to document functions as I would document mathematical functions (I work in scientific computing, lots of maths knocking around so this is quite natural for me). For each function I write:
sometimes, a description;
a specification of the domain;
a specification of the co-domain;
a statement of the rule, ie the operation that the function performs;
sometimes I write post-conditions too though these are usually adequately specified by the co-domain and rule.
I use LaTeX for this, it's good for mathematical notation, but any other reasonably flexible text or word processor would do. As for diagrams, no not so much. But that's probably a reflection of the primitive state of the design of the systems I program functionally. Most of my computing is done on arrays of floating-point numbers, so most of my functions are very easy to compose ad-hoc and the structuring of a system is very loose. I imagine a diagram which showed functions as nodes and inputs/outputs as edges between nodes -- in my case there would be edges between each pair of nodes in most cases. I'm not sure drawing such a diagram would help me at all.
I seem to be coming down on the side of telling you no, UML is not a reasonable way of modelling functional systems. Whether it's common SO will tell us.